SAB multi-million investment restores hope for KZN economy

Wednesday, November 30, 2022

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

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 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 services from them.

KwaZulu-Natal Premier, Nomusa Dube-Ncube, has described the investment as an overwhelming vote of confidence in the future of the province.

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

“There is no better pride in someone than being able to put food on the table and to be able to give dignity to a family by taking care of its needs for shelter and education,” Dube-Ncube said.

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

“Indeed, this is a major boost for the KwaZulu-Natal 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 another important effect, which is to shine the spotlight on KwaZulu-Natal and to attract further investment into our provincial economy,” Dube-Ncube said.

The Premier also highlighted that SAB is already a major player in the province, with 572 direct employees, with 50% of them based in Prospecton.

“Furthermore, the South African Breweries has established a firm socio-economic footprint in KwaZulu-Natal with the company investing more than R20 million per annum in socio-economic development ventures in the province, thus making a huge impact in the development of local communities,” the Premier said.

The Premier reaffirmed that the provincial government is hard at work to rebuild the province after economic setbacks, including COVID-19, the July 2021 unrest and the flood disasters, so that KwaZulu-Natal becomes a destination of choice for investors.

Responsible drinking campaign

Dube-Ncube also commended the positive initiatives being rolled out by SAB through its campaign, 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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