Investigating & Security Activities including Vehicle Tracking
The R50bn-a- year private security industry comprises more than 8,100 companies that employ approximately 450,000 security officers. The sector provides investigative services, including background screening & verification services and a wide range of security services ranging from physical guarding and armed response to vehicle tracking, mounted cable network protection, crowd control and off-site monitoring. Since 1997 the number of private security officers has grown three times more than the number of police officers, with the current ratio of security officers to police officers standing at 2.87:1.
Growth in the sector
The growth of the industry although sluggish in the current economic climate is directly linked to the high levels of crime and violence in South Africa, together with public perceptions that police officers are unable to provide adequate security. The compulsory installation of approved security systems as a basic requirement for insurance cover for assets and property also contributes to industry growth.
Concerns within the sector
Of concern is the high level of non-compliance with industry rules and regulations by an estimated 50% of companies active in the sector. Stakeholders are also concerned about the government’s introduction of the Private Security Industry Regulation Amendment Bill 2012, still awaiting the President’s signature. Although some role players believe that many aspects of the Bill could improve the regulation and functioning of the industry, they have reservations about the controversial 49% foreign ownership issue.
The detailed Security Activities report describes current conditions, recent developments and factors influencing the success of the industry. The report profiles 37 companies including the Fidelity Security Group (Pty) Ltd, which employs 48,000 in its security services divisions, G4S Cash Solutions (SA) (Pty) Ltd a major player in the cash in transit sector, and Cartrack Holdings Ltd which is involved in the development of telematics and electronic equipment, fleet management and vehicle tracking.