DA wants alcohol ban urgently lifted after SAB cancels another R2.5bn investment
South African Breweries (SAB) announced on Friday that it has cancelled a further R2.5 billion of investment earmarked for 2021 following the latest ban on alcohol sales.
SAB's cancelled investments in South African now total R5 billion since the first alcohol bans were introduced in March 2020.
During the previous alcohol ban in October last year, SAB cancelled R2.5 billion of planned expenditure.
It's estimated that at least 165,000 people have lost their jobs due to the successive alcohol bans.
The Democratic Alliance (DA) says SAB's divestment has made it abundantly clear that the ill-thought alcohol ban is having devastating economic consequences for South Africa.
In a statement, the party's shadow minister of trade and industry, Dean MacPherson, says citizens have paid with their lives and their jobs because President Ramaphosa and his Cabinet have failed them.
In a country that has record unemployment, it is unthinkable that we are forcing people not to work because the government failed in every respect to use the initial lockdown in March 2020 to build extra hospital capacity.Dean MacPherson, DA Shadow Minister of Trade and Industry
The time has come for President Ramaphosa to show leadership over this unfolding economic crisis, solely created by him. South Africa has already lost billions of Rands in revenue during the last two alcohol bans which contributes to funding hospitals, nurses and doctors. Surely we can’t afford to starve out country of any more revenue?Dean MacPherson, DA Shadow Minister of Trade and Industry
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