SAB to cancel R5bn in investments due to alcohol ban

Over the revenue losses suffered due to the near 3-month coronavirus ban on alcohol sales.
Image: Halden Krog/Bloomberg

South African Breweries (SAB) is cancelling R5 billion ($290 million) of planned investments over the revenue losses it has suffered due the near 3-month coronavirus ban on alcohol sales, the brewer said in a statement on Monday.

“The cancellation of this planned expenditure is a direct consequence of having lost 12 full trading weeks, which effectively equates to some 30% of SAB’s annual production,” said the firm’s vice-president of finance Andrew Murray.

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The ANC Strikes again : Another strike for destroy WMC !!!

Now having destroyed the free market middle class they’ll be afyer the intellectual classes next, leaving only the naive and indolent masses to do as the anc tell them….or else!

Isn’t the anc’s marxist “revolution” just dandy?

Whahahaaa.

Old CR.

The businessman extraordinaire. Hahahaaaa.

There has to be an ulterior motive.

Not even the ANC as a collective (all the brain cells put together) can be this stupid. What a hospital bed that is EMPTY costs you millions a week?

We will need a bigger gutter not hospital beds.

Covid 19 lock down stupidity strikes again.

Another in and endless list of examples of job destruction. This case represents both existing jobs lost and future jobs that will now never be created.

Viva ANC viva!

On Wikileaks there was an email by an ambassador in which he said ” Cutting one’s nose to spite one’s face” is not only a regular occurrence amongst African governments, it was considered to be a triumph in plastic surgery!

HOW MUCH IS THIS LUDICROUS ALCOHOL BAN REALLY COST THE GOVERNMENT IN REVENUE??? Do you think they have a recovery plan??????????? Hmmmmmmmmmmmmmmmmmmmmmmm

Yes. Wealth tax, aka stealing people’s savings.

End of comments.

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