BY JOHN SWEENEY
CARACAS -- Venezuela’s economy is in a recession aggravated by the worst electricity supply deficit in over 50 years. Companies are shutting down, unemployment and inflation are increasing. However, the private security business in Venezuela is growing robustly.
“When times are difficult like they are now, the security business always does well,” says Aguedo D’Hoy, president of Togumam C.A, a security company based in the city of Barquisimeto in the state of Lara.
Togumam is owned and managed by retired Venezuelan army officers. There are several hundred private security companies in Venezuela, mostly owned by individuals with professional backgrounds in the military or civilian law enforcement.
However, Togumam is one of a handful of security companies – less than 40 nationally – that carry private insurance coverage and are licensed by the Interior and Justice Ministry.
Private security executives...
Keywords: Abductions,Competition, Drivers, Murders, Strategy,