He said the four bans on alcohol sales resulted in a total loss in retail sales revenue of R45.1bn, or equivalent to 15.8% of the sector’s projected sales for 2020 and 2021.The four bans are also said to have led to tax revenue losses, excluding excise, of R34.2bn and R10.2bn in lost excise revenue for the government over the period, pushing the country further into the red.
The potential total capital formation lost as a result of the latest four-week ban alone is estimated to be R20.4bn. “The combined impact of the alcohol bans together with the recent looting has caused irreparable reputational damage to SA from an investor confidence and international tourism perspective,” said Mngadi.
He said Sunday's announcement to lift the ban was a huge relief but the industry was not yet “out of the woods”. “The partial opening of sales, and three-month deferment in excise tax payments due to alcoholic beverages, is a huge relief — but we are nowhere near being out of the woods, especially for off-site consumption outlets that continue to be restricted to trading Monday to Thursday, with no rationale or evidence provided for this decision, in spite of our many requests to secure this from government,” said Mngadi.
Can I hear these figures from an objective 3rd party?
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Hope they will think twice before they ban it again
abinbev is lying man. They don't even have enough product to supply outlets. Deliveries never arrive or no stock available but they talk about 2 billion investment. They don't have products it's a lie
That is a lot of money, I hope the President will think twice again when we go to a different level not to ban alcohol again.
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