SAB slams new alcohol restrictions as industry fallout threatens investment

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The alcohol industry has slammed the government's decision to ban alcohol sales over the weekends with fears that the country's largest brewer, SAB, could once again withhold its intended R2 billion capital investment in the country. alcoholban Level3

Ramaphosa said the sale of alcohol from retail outlets for off-site consumption would only be permitted between 10am and 6pm from Monday to Thursday, excluding public holidays.

Last year, SAB cancelled R5bn worth of capital investment as the fallout over the ban on alcohol spread on the first two prohibitions. “We are also concerned about the unintended consequences of limiting retail hours, which further entrenches the illicit industry who use these restrictions as an opportunity to sell illicit products to the public,” it said.

Salba chairperson Sibani Mngadi said the restructions denied the average working person the right to legally purchase alcohol for home consumption during their sparse free time.Last month, a report by Euromonitor International revealed that the illicit trade market has almost doubled in the last three years and is now estimated to be worth R20.5 billion.

 

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