Cash Connect Takes The Risk

The number of armed robberies and burglaries against retailers on the Hibiscus coast is increasing.

The Consumer Goods Council of South Africa reported a 30% year-on-year increase in robberies against the retail sector and notably, cash is the primary target of this kind of crime.

As part of an ongoing and proactive crime prevention initiative, Wolf Electronic Security has partnered with Cash Connect Management Solutions in order to be able to offer its business customers a meaningful and cost effective solution to protecting their cash.

“We are thrilled to announce that Cash Connect has partnered with Wolf Electronic Security to provide business owners on the south coast the advantage of secure cash management solutions that will reduce the risk of their businesses being a target for armed robbery,” says Richard Phillips, joint CEO of Cash Connect Management Solutions.

For Grant Maher and Anthony Hooper, owners of Wolf Electronic Security, this partnership is a major step in the process of increasing their ability to offer all businesses in the area a holistic solution to indiscriminate and life threatening crime.

A few months ago KwaZulu-Natal experienced a crime spree by the bandits known as the Tsunami Gang. This organised syndicate of criminals was linked to more than 15 robberies in the Phoenix, Tongaat, KwaMashu and Durban North areas – and nothing stops them or any other syndicate to target the south coast, especially with the upcoming festive season when businesses have an increased cash flow on their premises.

“The most recent crime statistics released by the South African Police Service indicate that KwaZulu-Natal is one of the provinces with the most violent crimes in the country. These statistics include some of the highest murder rates and armed robberies”, says Phillips.

Maher says “The main aim of the partnership with Cash Connect is to protect the businesses, their staff and customers on the south coast, and to ultimately help change the perception that our province is not safe to live in – if not for the whole KwaZulu-Natal area, then at least for its south coast”.

Business owners can no longer ignore the value of safer cash handling methods, as well as the importance of creating a safer environment for their staff and customers. For South African businesses, safer cash management solutions represent a revolutionary step in the right direction.

Phillips adds that the alliance with Wolf Electronic Security will aid them in their mission to better service Cash Connect’s existing clients in the area. Not only will Cash Connect’s technology help retailers reduce their costs of cash management, but they will also significantly reduce their risk of armed robbery.

Cash Connect’s policy of using nothing less than robust, cash deposit devices that are built to SABS Cat 4 standards, secure the cash in store has proved to be extremely successful in deterring armed robberies causing them to be deflected to easier and more vulnerable targets.

The alarming reality is that more than 90% of armed robberies against businesses in South Africa take place with insider participation and over 95% in search of cash. With these secure cash management solutions in place, retailers are 40 times less likely to be robbed.

The benefits of an automated cash management solution 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
  • And tangible cost savings

To find out more about the Cash Connect/Wolf Electronic Security alliance and how it can benefit your South Coast business, please email info@cashconnect.co.za or visit www.cashconnect.co.za. Alternatively email info@wolfsecurity.co.za

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 1,200 retailers processing over R2 billion a month and has been endorsed as the approved service provider to blue-chip companies such as Spar Group, Shell, Engen, Pick ‘n Pay and OK to name but a few.

The executive management team - led by joint CEOs Richard Phillips 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 Herbst:
Cash Connect
Tel: +27 11 010 4300 / 083 286 2799
Email: sumayh@cashconnect.co.za
Web: www.cashconnect.co.za

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