President Ramaphosa, AB Inbev engage during courtesy call

• Published date: 13 May 2022
• Publication title: South African Official News

Leading beer manufacturer AB Inbev has committed to working with government to create an enabling environment for economic growth in the country.

This was revealed during a courtesy phone call between President Cyril Ramaphosa and AB InBev and SA Breweries (SAB) CEOs Michel Doukeris and Richard Rivett-Carnac on Wednesday this week.

According to the Presidency, the engagement is a follow up with the President about the company's R4.5 billion investment pledge made at the South Africa Investment Conference earlier this year.

'The company indicated at the time that R1.9 billion of this investment will go towards returnable packaging which will enable SAB to continue transforming the industry by employing black suppliers such as HTP and Isanti Glass.

'R825 million of this investment will go towards SAB's Prospecton Brewery in Durban, in KwaZulu-Natal. This investment will provide a projected R3.1 billion additional tax revenue and generate 25 000 jobs through the value chain.

'R510 million will be committed to upgrading SAB's Ibhayi Brewery in the Eastern Cape,' the Presidency said.

Furthermore, the Presidency said the...