SBV is offering a R1 million reward for information on a cash-in-transit heist that left two guards dead in Tsolo, Eastern Cape, on Friday.
It said in a statement that it took exception to loss of life and was offering the reward for information that would lead to the successful arrest and conviction of those involved.
Police spokesperson Brigadier Vishnu Naidoo previously told News24 that the guards were loading money at an ATM machine near a supermarket when a group of armed men pounced on them.
Naidoo said the suspects fled with an undisclosed amount of money in a hijacked van.
SBV said two of its guards were killed. The driver of the van was unharmed.
Counselling was being offered to those affected.
The company was also offering R100 000 rewards for information on heists that took place in Pietermaritzburg and Hammanskraal on Monday.
Security company Fidelity said on Saturday that despite figures indicating a reduction in cash-in-transit incidents during the month of June, it could be a different story for July.
"This week alone, there have been four cross pavement incidents and three vehicle attacks – one of these occurred in the Eastern Cape and two in Bloemfontein which is worrying as the crime could simply be dispersing into other areas," said Wahl Bartmann, CEO of Fidelity Security Group, in a statement.
Police officials on Friday welcomed the reduction of cash-in-transit robberies in the June figures, saying the implementation of the South African Police Service's nationwide stabilisation programme was paying off.
"These robberies have been reduced significantly by 61% in the month of June 2018, compared to the month of May 2018," Police Minister Bheki Cele and national police commissioner General Khehla John Sitole said in a joint statement.
More than 40 suspects had been arrested since June 4, 2018.
"Four of these suspects rank among the top 20 of identified suspects wanted for similar crimes," the statement read.
Cele and Sitole noted that despite the reduction in incidents, there had been several robberies and attempted robberies on cash-in-transit vehicles in the past week.