An eye-opener for businesses in Port Elizabeth

South Africa’s national crime statistics for 2012/13 might indicate that there’s an 80% decrease in bank robberies, yet most other types of aggravated robbery have increased. In the last year alone, it has been recorded that more than 16 000 businesses have experienced an armed robbery. It is therefore without a doubt that the main target for robbers is businesses.

In response to the fact that one in five businesses have a chance of being a target, many responsible retailers have introduced advanced technology that automate the management of cash. One such store is the well-known Acres Spar which was the target of an armed robbery by a gang of at least four armed criminals on Monday 25 August.

“This armed robbery is just one of 45 other dangerously violent attacks that take place every day against business in South Africa. Over 90% of these types of robberies occur with the help of insider participation however it would appear that this wasn’t the case in this attack because the criminals were clearly unaware of the cash protection strategy that Spar had proactively adopted. In the end the criminals escaped with nothing more than some coinage for their efforts”, said Richard Phillips the joint CEO of Cash Connect Management Solutions.

“Although my store was robbed of the cash in the drop safe, we are fortunate that the robbers were unable to retrieve the bulk of the cash which was secured in a cash vault that was installed by Cash Connect two months ago”, says Shannon Joubert, owner of Acres Spar.

“Consumers continue to favour cash as the primary means of payment with some 84% of payment transactions continuing to be made with cash. As cash is also the primary target for armed robbery and incidents of violent attack continue to grow year on year, it is time for retailers and business owners to become smart and to take action to protect themselves and their customers,” says Phillips.

Joubert also says that the experience was an eye opener that emphasised the importance of having a technologically advanced and secure cash management system that cannot be tampered with, ultimately creating an effective deterrent for armed robbers.

Safer cash management solutions in South Africa represent a revolutionary step in the right direction. Cash Connect’s dogged adherence to using cash vaults that are built to SABS cat 4 standards lies at the heart of its ability to deliver on its promise to deter violent criminals from contemplating a robbery and deflecting them to easier targets.

For businesses it should therefore no longer be an option to invest in a safer cash handling solution – one that will give them the assurance of being as much as 40 times less likely to be robbed.

The benefits of a category 4 SABS cash vault include: 

• Protection against armed robbery and burglary
• Removal of cash risk and the creation of a powerful deterrent to attack
• A stable trading environment for staff and customers
• Instilling cashier accountability, with no third party involved
• A major reduction in cash shrinkage
• Control of fraudulent banknotes
• Improved cash flow
• The supply of detailed cloud-based management information
• Tangible cost savings

About Cash Connect

Cash Connect Management Solutions offers an end-to-end cash management solution that encompasses cash in transit logistics, security management and cash processing.

Established in 2006, Cash Connect’s specialist solutions for retailers remove risk and maximise cash flow through swift settlements. The company services more than 1,100 sites processing over R2 billion a month and is a service provider to blue-chip companies such as Spar Group, Shell, Engen, and Pick ‘n Pay, to name but a few.

The executive management team - led by joint CEOs Richard Phillip and Steven Heilbron - has an unrivalled pool of specialised cash logistics, security and banking experience. The board of directors is chaired by Ivan Epstein, CEO of the Sage Group AAMEA (Africa, Australia, Middle East and Asia). Cash Connect is a private company, with Old Mutual’s specialist fund, Futuregrowth Asset Management, as its largest institutional shareholder.

Idea Engineers on behalf of Sumay Dippenaar:
Cash Connect
Tel: +27 11 996 4432 / 083 286 2799
Email: sumayd@cashconnect.co.za
Web: www.cashconnect.co.za

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