Cable theft in SA cost Eskom, Transnet and Telkom a hefty R259 million in 2010.
This is according to the South African Chamber of Commerce and Industry's (SACCI's) copper theft barometer, which measures and reflects the impact of this type of crime on the three organisations.
SACCI explains that the R259 million knock is an indicator only of the estimated replacement cost of copper cable stolen from major users and does not reflect other direct costs involved, such as the costs of security to protect the infrastructure.
The barometer indicates a slight dip in the costly crime in December, which saw figures down to R17.55 million; a marginal improvement from the November figure of R18 million. But SACCI points out that this figure remains notably above the mid-year figure of R15.66 million.
Furthermore, it is estimated that overall theft of copper is costing the South African economy an estimated R5 billion per year.
However, the indirect repercussions of copper cable theft are on a large scale and of greater cost to the South African economy per annum.
These indirect effects include poor service delivery, negative investor perception of SA, power outages that could result in poor productivity, deterioration in exports, and the shutting down of business operations.
According to Telkom's 2009 corporate governance report, copper theft is not a problem unique to SA. Zambia, Tanzania, Kenya, the UK, and the US are also attempting to combat a significant prevalence of this crime.
However, SACCI believes the barometer will raise awareness of the problem and engage public participation to combat this crime.
Related story:
Copper theft knocks economy
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