Footage clearly shows two black men walking up to the shop, where there are three staff and no customers, with criminal intent.
The armed robbery has gone viral on YouTube with more than 22 000 views, but no arrests have been made.
The five blacks robbed a jewellery shop in Franschhoek.
On October 2, employees of Tracey’s Diamonds were held at gunpoint by a group of robbers pretending to be customers.
It is understood they drove off in three vehicles.
Over the past few weeks there have been a spate of mall attacks.
The Franschhoek robbery was the sixth attack after those in Canal Walk and two V&A Waterfront robberies. Since then there have been another 10, including the one at Waterstone Village in Somerset West on Sunday and the Paarl Mall robberies on Monday, when staff arrived at the Vodacom, Incredible Connection and King Pie shops to find the premises had been looted.
Police spokesman Lieutenant-Colonel Andrè Traut said robbers gained entry through the roof, making off with an undisclosed amount of goods.
Centre manager Faizah Berhadien said Paarl Mall had 24-hour security and all areas were monitored by CCTV.
Police have released pictures of four men linked to the Somerset Mall and Brackenfell Mall robberies. Two have been named as Zandisile Nelani and Siyabonga Gwangqa.
On September 21, a jewellery shop was robbed in Somerset Mall. A cellphone shop was robbed in Brackenfell on May 15.
Pictures of the robbers were obtained from surveillance cameras at the malls.
Traut said: “Two of the suspects have been identified and their photographs have been issued for publication as they are wanted on a charge of armed robbery.”
Traut said Nelani and Gwangqa were also wanted for an earlier robbery.
“They were released on bail following their arrest for an armed robbery… at a cellular telephone shop in Woodstock in March, and they failed to return to court.