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Chart from Gerhard van Onselen at soundmoneysa.co.za. According to gunpolicy.org, the highest estimate of illegal firearms circulating in South Africa is 4.5 million. There are only 1.8 million licensed firearms.
Even going midway between the highest and lowest illegal firearm estimates, there are 2.5 million in the country, 40% more than licensed firearms.
Evidence that if you make it near impossible for law abiding citizens to own a firearm, more criminals and law breakers will own them. Also note there are only 600,000 firearms owned by the agents of the state – police and army – which is well below the number of firearms in private hands, a good thing.
PS. Also see the Homicide and Firearm Ownership Statistic chart, here.