SA Breweries (SAB) has announced its plans to invest R5.8bn in the SA economy in 2023, with nearly half of the investment set to go to new projects.
The brewing giant said on Thursday that of the R5.8bn outlay, R2.4bn would be invested in new projects, which would include the expansion of the Ibhayi Brewery.
The Ibhayi project is expect to cost R555m.
SAB CEO Richard Rivett-Carnac said it was anticipated that the Ibhayi Brewery investment would create an additional 14,000 jobs throughout the beer value chain across SA.
“Our commitment to invest a further R5.8bn and our support of the conference demonstrates our belief that the ongoing work with government is creating a conducive operating environment that allows for investments and facilitates the future growth of businesses. We are positive about the future of the country and are making further investments because of the potential in SA,” he said.
“We are also very aware of the challenges that the country currently faces. We cannot talk about a sustainable business environment without addressing the impact that energy, transport, safety and security and water shortages have on our productivity,” Rivett-Carnac said.
The brewery cancelled R5bn in the country in 2020 due to SA’s multiple alcohol bans related to the Covid-19 lockdown. The group halted a R2.5bn investment in 2020 and a further R2.5bn was placed on hold in January 2021.
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