The South African Breweries (SAB) confirmed yesterday that its R5.8 billion investment commitment had been used to increase capacity at two of its plants.
The investment was for civil works and new equipment to allow for increased local production for new product innovations.
SAB announced this investment at the South African Investment Conference 2023 earlier in the year. Two of SAB’s plants were identified for these capacity upgrades, Prospecton Brewery in Durban and Ibhayi Brewery in Gqeberha in the Eastern Cape.
Richard Rivett-Carnac, the CEO of SAB, said in a statement, “We are dedicated to sustainable investments and economic growth. Our investments over time have contributed billions of rands to the South African gross domestic product (GDP), which, alongside the investment commitments pledged at the 2023 South African Investment Conference 2023, have provided a significant boost to an economy sorely in need of stimulus.
“In terms of job creation, the investment into the Prospecton Brewery has created approximately 25 000 additional jobs throughout the value chain, whilst the Ibhayi Brewery investment has created a further 14 000 jobs throughout the beer value chain across South Africa,” he said.
He said the estimated 39 000 jobs created through these investments were across a variety of sectors. These included agriculture, logistics, manufacturing, hospitality, construction and innovation among others in the value chain.
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