Coca-Cola Beverages Africa told the Competition Tribunal on Thursday that the retrenchment of staff two years ago was due to the effect of the sugar tax on its profits and not the merger with two bottling plants.

Coca-Cola lost R300m in profit in the 2018 financial year as the country’s sugar tax, also known as the health promotion levy, was introduced, it was said at the tribunal, which acts as a civil court on competition matters.  ..

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