Following the conclusion of its annual business planning cycle, The South African Breweries (SAB) is pleased to announce that it has allocated a R2 billion capital investment for its South African operations. The allocation will include, but is not limited to upgrades to operating facilities, installation of new equipment at selected plants, product innovations and other necessary operating systems. This much needed R2 billion capital injection is earmarked for projects to be completed in the financial year 2022.
SAB believes that the investment will go a long way in supporting the country’s economic recovery. This injection of funds into the economy, creating much needed jobs, supporting local SMME’s and investing in communities indicates SAB’s long-term commitment to helping grow South Africa. The company has secured new investment funds as part of a rigorous, global business planning cycle. This follows the unfortunate cancellation of 2021 funds due to a challenging operating environment, prohibition laws and regulatory uncertainty.
The financial boost is a positive signal, stemming from encouraging engagements with government and social partners, through platforms like NEDLAC and the National Joint Operational and Intelligence Structure (NATJOINTS). As the rebuilding of the economy takes place amidst the challenges brought on by the pandemic, having constructive engagement, transparency and partnership are key ingredients for investor confidence.
Zoleka Lisa, VP Corporate Affairs at SAB says: “It is imperative that social partners collaborate in finding sustainable solutions to saving both lives and livelihoods. Creating platforms for engagement, provides the confidence and enabling environment for business to play a leading role in the socio-economic recovery.
95% of our products are sourced and produced locally, so we are very much connected to our communities where we live and work. We know that our economy won’t recover unless our communities are viable.”
“We are encouraged by the recent announcement by the President on making the move to level 2 lockdown, introducing measures that still allow the economy to operate. The announcement also emphasized the importance of a successful vaccination programme rollout, prioritizing the most vulnerable in society” says Lisa. SAB is currently using its reach in supporting initiatives that include vaccination education as well as registration on the Electronic Vaccine Data System.
Richard Rivett-Carnac, VP Finance and Legal, “The move to implement reasonable measures, as we continue to navigate the pandemic, is a welcomed signal that we can expect to see more consultation in the future and that blanket bans will be a thing of the past. Further collaboration will provide the required confidence boost needed in order to attract further investment to the country.”