The research was conducted independently by Econometrix<\/strong>, an independent economic research and consulting organisation, providing an evidence-based assessment of the scale and impact of illicit trade across key sectors of the South African economy.<\/p>\n The report, launched today, comes amid growing concerns over the expansion of illicit markets and the increasing sophistication of criminal networks involved in the distribution of illegal and counterfeit goods.<\/p>\n According to the research, illicit trade has moved beyond being simply a law-enforcement challenge and has become a significant economic concern. It affects legitimate businesses by creating an uneven playing field, while also depriving government of much-needed tax revenue.<\/p>\n The research examined the impact of illicit trade across a number of key sectors, including fast-moving consumer goods and other industries that play an important role in the South African economy.<\/p>\n The findings highlight the need for a coordinated response involving government, business, law-enforcement agencies and consumers. The CGCSA believes that addressing illicit trade requires stronger collaboration and the sharing of intelligence between stakeholders.<\/p>\n The council has warned that the consequences extend beyond lost sales and revenue. Consumers can also be exposed to products that have not gone through the necessary regulatory and quality-control processes, potentially creating health and safety risks.<\/p>\n For legitimate businesses, illicit operators are able to undercut compliant companies because they often avoid taxes, regulatory requirements and other costs associated with operating within the formal economy.<\/p>\n The launch of the Econometrix research therefore provides stakeholders with important evidence that can be used to inform policy and strengthen interventions aimed at disrupting illicit trading networks.<\/p>\n The CGCSA has emphasised that the fight against illicit trade cannot be left to law-enforcement agencies alone. Greater cooperation between the public and private sectors will be required to identify illicit operators, strengthen enforcement and protect legitimate businesses.<\/p>\n The council has also called for greater consumer awareness, as consumers can play an important role in reducing demand for illicit products by choosing to purchase goods through legitimate channels.<\/p>\n The research comes at a critical time for South Africa as government and business continue to explore ways of strengthening economic growth, protecting jobs and supporting companies operating within the formal economy.<\/p>\n With the findings of the independent Econometrix research now on the table, stakeholders are expected to use the evidence to strengthen the country\u2019s response to illicit trade and develop practical measures to protect consumers, businesses and the broader economy.<\/p>\n The CGCSA says a sustained and coordinated approach will be essential to reducing the influence of illicit markets and ensuring that legitimate businesses can compete fairly in South Africa.<\/p>\n","protected":false},"excerpt":{"rendered":" The Consumer Goods Council of South Africa (CGCSA) has launched a new research report highlighting<\/p>\n","protected":false},"author":1,"featured_media":916,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\n