SOUTH AFRICAN BREWERIES EXPANDS CAPACITY WITH R5.8 BILLION INVESTMENT

In a resounding commitment to economic growth and local innovation, The South African Breweries (SAB) has successfully deployed its R5.8 billion investment to enhance production capacity at two key facilities. The strategic move was aimed at fostering new product developments through civil works and the integration of cutting-edge equipment.

SAB unveiled this significant investment at the South African Investment Conference 2023 earlier in the year, marking its dedication to contributing to the nation’s economic resurgence. The chosen beneficiaries of this substantial investment are the Prospecton Brewery in Durban and the Ibhayi Brewery in Gqeberha, Eastern Cape.

The South African Investment Conference, initiated by President Cyril Ramaphosa in 2018, has been pivotal in revitalizing the nation’s economy. President Ramaphosa, earlier this year, set a new target to mobilize approximately R2 trillion in new investments over the next five years, signaling a renewed focus on economic growth.

With a workforce of around 5,700 employees and collaborations with nearly 3,739 suppliers, SAB plays a crucial role in supporting approximately 250,000 jobs in the beer value chain. Moreover, 94% of their beer production relies on locally sourced high-quality ingredients, underlining the company’s commitment to supporting local farmers.

Mr. Richard Rivett-Carnac, the Chief Executive Officer of SAB, emphasized the company’s dedication to being a catalyst for economic growth and sustainability. He stated, “We are dedicated to sustainable investments and economic growth. Our investments over time have contributed billions of rand to the South African Gross Domestic Product (GDP).”

Highlighting the impact on job creation, Rivett-Carnac revealed, “The investment into the Prospecton Brewery has created approximately 25,000 additional jobs throughout the value chain, while the Ibhayi Brewery investment has created a further 14,000 jobs across South Africa.”

These job opportunities span various sectors, including agriculture, logistics, manufacturing, hospitality, construction, and innovation within the value chain. SAB’s investments continue to play a pivotal role in fortifying South Africa’s economic landscape, offering a much-needed stimulus to propel the nation forward.