Global beer producer Anheuser-Busch InBev has added to the chorus of businesses lamenting SA's energy crisis, warning that the poor state of electricity generation is hitting its ability to produce beer. | News24_Business
South Africa has been suffering an increasing deficit in power generation capacity since 2007, resulting in electricity rationing that has resulted in businesses and households running without power for up to 12 hours a day at Stage 6 load shedding.
On Thursday, grocery retailer Pick n Pay also added to the business concerns, with its chair Gareth Ackermanwhat he called the government's inaction in solving the structural problems caused by inadequate investments in infrastructure for public services such as electricity production. The electricity shortages cost Pick n Pay about a half a billion rand in its recent financial year, while it cost SA's biggest grocer Shoprite more than R560 million in diesel costs in its first half alone. Load shedding costs Tiger Brands about R1.5 million a day at Stage 6 load shedding, the company said earlier this year.
Unlike Pick n Pay's stinging criticism of the government's poor handling of the electricity capacity constraints, AB InBev adopted a polite and public relations stance. "We are encouraged by and are supportive of the work government is doing to address the energy and resource challenges and we will support initiatives that help maintain the continuity of operations, prevent losses, and support economic growth," said Rivett-Carnac.In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COMPANY RESULTS: Prost! AB InBev’s global results reveal just how well beer builds better businessAnheuser-Busch InBev, the world’s largest brewer, has reported its strongest international pricing in years — double-digit top and bottom-line growth, and a 13.2% increase in total revenue.
Read more »
WATCH: These are the jobs most at risk of being lostBusiness Day TV spoke to Denene Erasmus, Business Day energy writer
Read more »
AB InBev beats profit expectations on price hike impactAnheuser-Busch InBev reported higher than expected earnings on Thursday as it sold only slightly more beer but at sharply higher prices. Moneyweb ABInBevEarnings
Read more »
Japan's PM Kishida seeks closer ties with Africa in bid to woo 'Global South'Japanese Prime Minister Fumio Kishida said on Thursday he hoped to see closer ties between Japan and Africa as he seeks to win over the 'Global South' ahead of a Group of Seven (G7) summit he will host later this month.
Read more »
COVID no longer a global health emergency: WHOWorldwide, the disease had as of 3 May officially claimed more than 6.9 million lives, and sickened more than 765 million others, according to WHO, which has said the true figures are likely far higher.
Read more »
Covid-19 no longer a global health emergency, says WHO | News24The Covid-19 pandemic, which for over three years has killed millions of people, wreaked economic havoc and deepened inequalities, no longer constitutes a global health emergency, the WHO said Friday.
Read more »