Crime-Busting G4S Faces South Africa Private Security Curbs

G4S Plc, the world’s biggest provider of security services, and rivals including Securitas AB and Tyco International Ltd. face having to relinquish control of their South African units as the government restricts foreign ownership of the industry.

The Private Security Industry Regulation Amendment Bill, which is awaiting President Jacob Zuma’s signature, will require all security companies and manufacturers, importers and distributors of security equipment to be at least 51 percent owned by locals. The government says the measure, which Parliament’s two chambers have passed, is needed to safeguard national security.