Business

South Africa: Alcohol Ban Cost Economy More Than $892 In Taxes

Last updated on September 11th, 2021 at 02:36 pm

Brewing and beverage business enterprise Distell said on Monday the alcohol industry had already lost 118,000 jobs.

Whilst nearly 800 small and medium sized liquor manufacturers confronted financial ruin as a end result of the South African government’s ban on sales to strive and incorporate Covid-19.

SAB abandons R5bn of capital investment

The country’s largest beer maker, SAB, said the day gone by that it had deserted R5billion worth of capital funding projects in South Africa on the 12-week alcohol ban imposed via the government as phase of its response to the Covid-19 pandemic.

FacebookFacebookTwitterTwitterEmailEmailRedditRedditPinterestPinterestWhatsAppWhatsAppMessengerMessengerShareShare
AddThis Website Tools
Albert Echetah

Recent Posts

Africa’s Green Revolution: From Raw Materials to Industrial Powerhouse

Africa is taking big steps by entering the global green technology manufacturing market to stop being just a supplier of…

March 27, 2025

MTN Group and Airtel Africa Forge Network Sharing Pact in African Markets

Two mobile telecom leaders, MTN Group and Airtel Africa, joined forces to create a new digital infrastructure system throughout African…

March 26, 2025

Musk’s ‘White Genocide’ Claim Sparks Diplomatic Tension in South Africa

South African President Cyril Ramaphosa defended his nation against claims of white discrimination made by tech magnate Elon Musk. After…

March 25, 2025

Hilton Launches Signia Brand in Africa with Cairo Skywalk Development

Hilton launched Signia by Hilton for its first appearance in Egypt and Africa through its hotel expansions. These hotels at…

March 25, 2025

Cholera Crisis: Nearly 3,000 Dead as 16 African Nations Battle Outbreak

UNICEF reported that, nearly 2900 people died of cholera across Eastern and Southern African countries while children suffer most greatly…

March 24, 2025

UAE FinTech enza Raises $6.75M to Transform African Payments

Enza, based in the United Arab Emirates, obtained $6.75 million in initial investment funding from Algebra Ventures and Quona Capital.…

March 24, 2025