President Cyril Ramaphosa received a courtesy call on Wednesday, 11 May 2022, by Michel Doukeris, Chief Executive Officer of AB Inbev, the world’s largest beer company, and Richard Rivett-Carnac, Chief Executive of the AB Inbev-owned South African Breweries (SAB).
The meeting took place at Genadendal, the President’s Official Residence in Cape Town.
The engagement flowed from SAB’s R4,5 billion investment pledge at the recent South Africa Investment Conference where the company demonstrated its support for South Africa’s economic recovery and investment drive.
The company indicated at the time that R1,9 billion of this investment will go towards returnable packaging which will enable SAB to continue transforming the industry by employing black suppliers such as HTP and Isanti Glass.
R825 million of this investment will go towards SAB’s Prospecton Brewery in Durban, in Kwa-Zulu Natal. This investment will provide a projected R3.1 billion additional tax revenue and generate 25,000 jobs through the value chain.
R510 million will be committed to upgrading SAB’s Ibhayi Brewery in the Eastern Cape.
SAB is the second largest brewer in the world and directly employs 5 500 people in South Africa.
The AB Inbev and SAB leaders outlined to the President their companies’ commitment to create an enabling operating environment that will unlock South Africa’s growth potential and improve the business climate, while reducing the negative impacts of harmful use of alcohol.
The executives briefed the President on deliberations within the World Health Organisation and the Organisation for Economic Cooperation and Development on a differentiated approach to dealing with different types of alcohol as part of responding to social ills associated with harmful alcohol use.
President Ramaphosa welcomed AB Inbev and SAB’s commitment to South Africa and to working with government to fashion a regulatory regime that would facilitate growth in the sector and reduce social harm.
Source link : https://allafrica.com/stories/202205130584.html
Author : Govt of SA
Publish date : 2022-05-13 13:12:29