JOHANNESBURG – South African Breweries (SAB) and Anheuser-Busch (AB) InBev Africa on Thursday launched a R438 million production line at its Ibhayi Brewery based in Port Elizabeth.
The multimillion rand investment is over and above the public interest commitments made by AB InBev to the South African government at the time of its business combination with SABMiller at the end of 2016.
The public interest commitments involve AB InBev investing R1 billion in South Africa over the next five years in the areas of agriculture, entrepreneurship and societal benefits.
Zone President at SAB and AB InBev Africa, Ricardo Tadeu, said: "Fixed investment which leads to confidence is one of the key components needed to drive economic growth in a country. In turn, this helps to create jobs and encourages foreign investment, which is not going to happen if domestic investment does not take place.
"At the onset of the global business combination between SABMiller and AB InBev the agenda was one of growth and investment. A commitment was made to grow and make a real difference in South Africa and this commitment has been accelerated through the investment at Ibhayi Brewery. It is an important vote of confidence in the beer category and the South African economy at large."