Jan 2023

SAB multi-million investment restores hope for KZN economy

The South African Breweries (SAB) has injected a multimillion rand investment that will create over 25 000 job opportunities and rekindle the hopes of KwaZulu-Natal (KZN) residents.

The SAB’s R825 million expansion project at its Prospecton Brewery in the South Durban Basin is set to expand the SAB’s operations after setbacks, including the COVID-19 pandemic, the July 2021 unrest and looting and the devastating floods in April and May this year.

The investment, announced by SAB Chief Executive Officer Richard Rivett-Carnac will also benefit local suppliers to the tune of R652 million, as the brewery is going to procure servicesThe South African Breweries has invested R825 million to boost KwaZulu-Natal economy. Picture: KZN provincial government from them.

KZN Premier Nomusa Dube-Ncube says the investment is an overwhelming vote of confidence in the future of the province.

“As the provincial government, we are pleased that this investment will lead to the creation of 25 000 additional jobs throughout the value chain and we can safely say that it will positively impact at least 125 000 people in our province,” she says.

The Premier also commended SAB for showing confidence in the province. The SAB will, over time, inject an additional R4.4 billion into the province’s Gross Domestic Product.

“Indeed, this is a major boost for the KZN economy, as it goes beyond the bricks and mortar here at SAB to impact the economic growth of not only the province, but by extension, our country as well. This investment also has an important effect to shine the spotlight on KZN and to attract further investment into our local economy,” She says.

She adds that SAB is already a major player in the province, with 572 direct employees, with 50% of them based in Prospecton.

“Furthermore, the SAB has established a firm socio-economic footprint in the province with the company investing more than R20 million per annum in socio-economic development ventures, thus making a huge impact in the development of KZN communities,” the Premier says.

She reaffirmed that the provincial government is hard at work to rebuild the province so that it becomes a destination of choice for investors.

Responsible drinking campaign

Premier Dube-Ncube also commended the positive initiatives being rolled out by SAB through its campaign known as the SAB ‘reality check’ advertising campaign and responsible drinking , which encourages responsible drinking.

“The responsible drinking campaign demonstrates that the SAB is serious about playing a role in reducing and preventing the harmful use of alcohol and in being a good corporate citizen.” – SAnews.gov.za

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