By The Free State Private Security Regulatory Chamber (FSPSC) is calling on all security companies in the Free State province to attend a crucial meeting that will highlight the plights of the industry including compliance and transformation issues.
The private security sector is one of the largest employers in South Africa, bigger the than the police force. The industry employs just over 2.7 million registered security officers; however, it is an industry with a lot of red tapes that are disheartening to small companies trying to enter the market.
According to Allied Market Research, the security industry boasts a global market value of $214.4 billion from 2022 and is expected to grow to $531.5 billion in 2032 with a compound annual growth rate (CAGR) of 7.8%.
Though the private security industry may be lucrative, it has a lot of challenges and transformation remains a central challenge. Resolving the matter will need security companies to clamp together and address the issues with the relevant bodies regulating the industry, together with the government.
FSPSC has a scheduled meeting wherein all security companies are invited. The meeting will be attended by PSIRA amongst others with the aim to reflect on the state of the industry in the Free State province.
Championing the issues faced by private security; the Chairperson of FSPSC and the Organiser of the meeting Marven Motseki says he believes that the meeting is a step in the right direction for the industry in the province.
“I believe that this meeting is a vital step towards ensuring that the private security industry in the Free State is aligned with the regulatory requirements and is committed to transformation. The Chamber is committed to creating a conducive environment for the industry to thrive, and this meeting is a crucial step in achieving this goal,” said Motseki.
Motseki says the meeting will provide a valuable opportunity for security companies to engage with the Chamber and other stakeholders, and to contribute to the development of a thriving and compliant industry in the province.
“We urge all security companies operating in the Free State to attend this important meeting and be part of shaping the future of the industry in our province,” concluded Marven Motseki.
The meeting will take place at the Botshabelo Digital Hub, 09 Pink Street, Botshabelo Industrial Park, on 31 July 2024, at 11am. For more information, contact Marven Motseki on 083 693 8918.
