20 January 2021 – Tshwane, South Africa
SAB has cancelled 2.5 billion Rands in investment expenditure. This affects many South Africans.
The South African Breweries has formed a part of the South African economy for the last 125 years.
The company decided to approach the courts to challenge the constitutionality of the decision making process of the NCCC to re-ban the sale of alcohol.
According to the SAB, “this legal action is the last resort available to SAB in order to protect our employees, suppliers, customers, consumers and all the livelihoods we support.”
Cancelled aspects of investment included necessary upgrades, development of new products, re-vamping operating systems and acquisition of new equipment and grounds.
SAB’s vice –president of finance Richard Rivett-Carnac is concerned about the company’s profitability and ability to maintain jobs.
Rivett-Carnac stated, “while SAB supports all reasonable and responsible measures that curb the spread of the pandemic and save lives, we strongly disagree with the introduction of yet another outright ban on the sale of alcohol”.
He stated that SAB will continue to find ways to come up with solutions to Covid-19 related obstacles with the government to save peoples’ jobs and livelihoods.
The Economic Freedom Fighters believe SAB is threatening South Africans by withdrawing investment and should be nationalised.
Alcohol is the number one killer on South African roads and was used by colonial authorities to subdue African leaders.
Many South Africans are now shifting to cannabis as used during the pre-colonial era.
Image credit 1: Wil Stewart