‘They must stop threatening SA’: Shivambu slams SAB for cancelling R2.5bn investments

EFF second-in-command Floyd Shivambu says SAB’s protests against the alcohol ban are indicative of ‘pure capitalist greed and opportunism’.
Picture: Financial Mail

EFF deputy president Floyd Shivambu has again lambasted SA Breweries after it cancelled a further R2.5bn investment reserved for this year, after the third alcohol ban.

SAB first cancelled R2.5bn of planned expenditure after a second alcohol ban was imposed last year.

The third ban was put in place last month when President Cyril Ramaphosa announced the move from lockdown level 1 back to adjusted level 3.

“Given the material impact that this third ban on the sale of alcohol has on our business, and the possibility of further bans, we have no choice but to halt these investments for the foreseeable future,” said SAB’s vice-president of finance, Richard Rivett-Carnac.

SAB is the maker of Carling Black Label and Castle Lite beer, among other alcoholic beverages.

The cancelled investments were for upgrades to operating facilities, product innovation, and new equipment at selected plants.

Taking to social media, Shivambu questioned whether the company had ever cancelled investments in “protest against apartheid racism and barbaric killings of defenceless black people”.

“What’s the story of these rapacious and greedy tax base eroders? They can go to hell and must stop threatening SA because they want to impose alcohol on us,” he said.

This is not the first time the outspoken politician has slammed SAB. Last week, Shivambu said the company’s social media campaign against the alcohol ban represented “pure capitalist greed and opportunism”.

SAB had spearheaded a campaign on social media against the ban, allegedly including influencers such as Khanyi Mbau.

According to a brief purportedly sent by SAB to influencers, the campaign was set to run from January 4 until February 4.

“The scientific reality is that the socio-economic, health care and general damage and destruction caused by alcohol far outweighs the livelihood benefits. Desist guys,” said Shivambu.

By Unathi Nkanjeni – TimesLIVE

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