When it comes to the country’s economic growth, SA Breweries (SAB) – a subsidiary of AB-InBev – has proven that it does not pay in words.

This stems from a commitment of Rs 4.5 billion in investment during the recent Fourth SA Investment Conference (SAIC), with allocations to rejuvenate the sick economy of the township.

This week, the company marked a visit to South Africa by AB-InBev CEO Michel Dukeris and SAB CEO Richard Rivet-Karnak, attracting President Cyril Ramaphosa and assuring him that the promise made at SAIC would boost economic growth and sustainability efforts in the country. . South Africa and across the continent.

With the alcohol value chain contributing about 75 billion rupees to South Africa’s gross domestic product (GDP), Rivet-Karnak said the SAB has already begun expanding its breweries, “and we are making a full investment in four years.”

The SAB 2022 promise included:

  • Planned capital investment of Rs 573 million in Africa.
  • A total of 1.9 billion rupees on reverse packaging, allowing SAB to continue the transformation of the industry by hiring black suppliers.
  • More than 8.2 million rupees for the SAB Prospecton brewery in Durban, KwaZulu-Natal in support of job creation throughout the value chain – increased tax revenues and additional GDP for the domestic economy.
  • A total of Rs 510 million for the modernization of the SAB Ibhayi brewery in the Eastern Cape to support job creation, resulting in 14,000 additional jobs through the value chain and generating Rs 2.5 billion of additional GDP for the economy.

Rivet-Karnak explained: “Over the past five years, we have invested in transforming our supply chain to not only produce about 95% of our raw materials locally, but also to transform our supplier base.

READ ALSO: SAB invests 920 million rupees in Prospecton and Ibhayi

“Through the SAB Thrive Fund, we have invested more than Rs 200 million in supplier development to drive our local sourcing program through the transformation and growth of our suppliers.

“We have supported and helped transform the local glass manufacturing sector by supporting the acquisition of Isanti Glass Nampak glass.

“This acquisition has transferred ownership and control of a very important production asset to black industrialists and employees of the enterprise.

“We believe that local value chains are important and must be protected and secured for economic growth.”

Reflecting on his visit to SA, Dukeris said the public-private partnership is “critical to supporting national and continental economic challenges”.

Beer, Dukeris said, “is typically locally produced, distributed locally and consumed locally, making our industry unique to provide higher direct economic benefits to support communities and economies around the world and right here in Africa. “

“AB InBev and SAB remain committed to South Africa and the recovery of the continent’s economy to help create a more sustainable and inclusive future,” he said.

The revival of the township economy, opportunities for investment partnerships in Gauteng and exports led to a meeting between Prime Minister David Mahouri and company leaders.

SAB plays a crucial role in the province through its breweries in Alroda, Chamdora and Roslin and the beer ecosystem.

The beer category has made a significant contribution to economic activity in Gauteng province – crucial for provincial tourism: 60% of SAB beer was brewed in Gauteng.

SAB said the township’s economy was important to the company because of the group’s presence in Gauteng, including three plants, which contributes to the Township Economic Development Act.

It has committed itself to revitalizing the township economy through its responsible trade programs under the SAB Sharp.

Mahura said: “As the Gauteng government, we will do everything possible to ensure that SAB continues to invest in our urban business, in line with the Urban Economic Development Act, which I signed a few weeks ago in Sauet.”

–Brians@citizen.co.za

Source by [author_name]

Previous articleSince you have already been vaccinated against the flu, why not get vaccinated against Covid?
Next articleUS to examine whether Paxlovid needs a longer course to fight re-infections – SABC News