SAB halts R5 billion investment in South Africa due to alcohol ban
https://businesstech.co.za/news/bus...th-africas-alcohol-ban/?utm_source=newsletter
''SAB warned that its decision will also have an impact on the external supply chain companies that had been selected for these upgrades.
It is forecast that the jobs lost across the entire industry as a result of the alcohol ban will soon reach 120,000 people and the excise tax lost from the first ban is sitting at over R12 billion.
The jobs and financial losses magnify considerably when considering the severe impact the suspension is having on communities, as well as the downstream supply chain, including, farmers and other raw material suppliers, tavern owners, packaging and logistics companies, among many others that have had to immediately stop operations, and are facing dire consequences.
The many thousands of people that have now joined the significant number of South Africans already unemployed is of great concern, SAB said.
https://businesstech.co.za/news/bus...th-africas-alcohol-ban/?utm_source=newsletter
''SAB warned that its decision will also have an impact on the external supply chain companies that had been selected for these upgrades.
It is forecast that the jobs lost across the entire industry as a result of the alcohol ban will soon reach 120,000 people and the excise tax lost from the first ban is sitting at over R12 billion.
The jobs and financial losses magnify considerably when considering the severe impact the suspension is having on communities, as well as the downstream supply chain, including, farmers and other raw material suppliers, tavern owners, packaging and logistics companies, among many others that have had to immediately stop operations, and are facing dire consequences.
The many thousands of people that have now joined the significant number of South Africans already unemployed is of great concern, SAB said.