President Cyril Ramaphosa enacted the Private Security Sector Regulation Amendment Act, introducing stricter regulations for the private security sector in South Africa.
The law, which has not yet entered into force, has been a source of controversial for several years, in the face of backlash from opposition parties and parts of the security sector. One of the main sticking points is that the law introduces a South African ownership requirement of 51%.
It also gives the Minister of Police the power to unilaterally prescribe a different percentage of ownership and control for different categories of security firms, if he considers this to be in the interest of Africa’s national security. South.
There are also concerns that the law will focus less on the legislation of companies and more on their regulation as companies. This would mean that the sector would be subject to the government’s transformation strategies and would discourage foreign investment in favor of South African property.
The Democratic Alliance has strongly opposed the regulation, which it says will lead to further international divestment and job losses.
“Suddenly, the legislation signed last week by (President Cyril) Ramaphosa empowers the national ANC government to effectively expropriate property from foreign investors by denying their companies the right to do business in South Africa.” South unless they sell their controlling stake. said the prosecutor.
âWhen this law was first considered by Parliament in 2014, foreign embassies made it clear that this forced expropriation of investor property would violate World Trade Organization rules and could result in the expulsion of the South Africa preferential market access agreements.
The DA added that some of the biggest security companies that help keep South Africans safe have significant foreign ownership.
More than 550,000 South Africans currently work in the private security sector. This is nearly four times more than the 145,000 police officers currently employed by the South African Police Service, he said.
“This latest effort to make citizens even more vulnerable to crime comes after Cele announced earlier this year his intention to suppress self-defense as a reason for owning a gun,” the prosecutor said.
“The pattern here is clear: while the ANC spends 1.7 billion rand of taxpayer money each year on ensuring their security, they systematically make it harder for other citizens to defend themselves, their families and their property. against crime against crime. the collapse of SAPS.
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