SA Breweries has halted R5 billion in investments in South Africa over the next two years, due to the consequences of the alcohol ban
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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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Alcohol sales ban forces SAB to cancel R5bn investmentThe investments that had been considered had included upgrades to operating facilities and the installation of new equipment at selected plants
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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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SA alcohol ban costs economy more than R15bn in taxes - DistellMultinational brewing and beverage company Distell said on Monday the alcohol industry had already lost 118,000 jobs while nearly 800 small and medium sized liquor manufacturers faced bankruptcy as a result of the South African government's ban on sales to try and contain Covid-19.
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SAB cans investments worth billionsSouth African Breweries (SAB) has cancelled investments worth R2.5-billion as a direct result of lockdown restrictions on beer sales.
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Covid-19 cases in SA cross 500 000 markOver half a million people have tested positive for Covid-19 in South Africa as of Saturday. The 10 107 new cases reported in the past 24 hours take the total number of positive cases in the country to 503 290. COVID19inSA CoronavirusPandemic
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