Booze ban blamed for icing R5bn SAB investment
The decision by the brewer follows an announcement by Heineken that it had to reassess its 'expansion ambitions'
SAB, a division of AB Inbev, the world’s largest brewer, said it has stopped R5bn of planned investments in SA, citing uncertainty caused by the government's decision to ban alcohol sales as part of its strategy to contain the spread of Covid-19.
The company said in a statement on Monday that it was withdrawing R2.5bn of planned infrastructure upgrades for the current financial year, while a planned investment of a similar amount for the next year has been placed under review. ..