SA Breweries announced on Monday that it had “halted” R5bn in investments in the country over the next two years because of the ban on alcohol sales.
“This decision is a result of the first, and the current, suspension of alcohol sales, which has led to significant operating uncertainty for ourselves, our partners, as well as colleagues in the industry, including participants in the entire value chain, and which affects over one-million livelihoods across the country,” he said.
“It is forecast that the jobs lost across the entire industry as a result of the alcohol ban will soon reach 120,000 people and the tax lost from the first ban is sitting at over R12bn,” said SAB.
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SAB stops R5bn investment because of alcohol ban 'which affects a million livelihoods'SAB announced on Monday that it had 'halted' R5bn in investments in the country over the next two years due to the ban on alcohol sales.
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SAB stops R5bn investment because of alcohol ban 'which affects a million livelihoods'SAB announced on Monday that it had 'halted' R5bn in investments in the country over the next two years due to the ban on alcohol sales.
स्रोत: TimesLIVE - 🏆 28. / 59 और पढो »
SA Breweries cans investment projects worth R5bnBeer producer South African Breweries has canned local capital investment projects worth R5bn over the next two years due to the lockdown that has seen the sale of alcohol being suspended. The SAB said in a media statement on Monday it was cancelling a R2.5bn investment project that was planned for this year while also reviewing another R2.
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