drives cable theft

Unemployment fuels cable theft

The global economy is showing new signs of weakness, pushing unemployment to over 197 million in 2015 and making existing jobs increasingly vulnerable. The outlook is for unemployment to increase by a further 3.4 million over the next two years and for slower progress in reducing vulnerable employment, which could reach 1.5 billion by 2016.

South Africa’s unemployment in the first quarter of 2017 increased by 1.2 of a percentage point to 27.7% – the highest figure since September 2003.

A growing problem

Copper theft is a growing problem in many parts of the world, particularly in regions where there is a high demand for the metal and where economic conditions are challenging. One such area is Africa and India, where rising unemployment rates are creating a situation where copper theft is becoming an increasingly attractive option for individuals and organized criminal groups.

The reasons

The reasons behind rising unemployment in Africa and India are complex, but can be traced back to a number of factors. In Africa, many countries have struggled with political instability, corruption, and poor governance, which has made it difficult to attract investment and create job opportunities. Additionally, many African economies are heavily reliant on resource extraction, and as global commodity prices have fluctuated in recent years, many companies have cut back on operations, leading to job losses.

In India, the situation is similar. Despite being one of the fastest-growing economies in the world, the country has struggled to create enough jobs to keep up with its rapidly growing population. Many of the jobs that are available are low-paying and unstable, which means that even those who are employed may struggle to make ends meet.

Poverty fuels copper theft

With few other options available, some people in Africa and India are turning to copper theft as a way to earn money. Copper is a valuable metal that is used in a wide range of industries, including construction, telecommunications, and electronics. It is also relatively easy to steal, as it is often found in unsecured locations such as abandoned buildings, construction sites, and electrical substations.

Organized criminal groups are also getting involved in copper theft in Africa and India, seeing it as a lucrative business opportunity. These groups often have the resources to carry out large-scale thefts, such as stealing entire sections of electrical wiring or copper pipes from buildings. They then sell the stolen metal on the black market, where it can fetch a high price.

The global copper theft will escalate

The problem of copper theft is not limited to Africa and India, but the combination of rising unemployment, limited economic opportunities, and a high demand for the metal is making these regions particularly vulnerable. Unless steps are taken to address the root causes of unemployment and to increase security measures around copper installations, it is likely that the problem will continue to grow in the coming years.