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SAB expansion set to boost KZN economy and create jobs

Date: 2022-12-23 08:25:05

SAB expansion set to boost KZN economy and create jobs

KZN Premier Nomusa Dube-Ncube welcomed the investment by South African Breweries.

THOUSANDS of jobs and an additional R4.4 billion in Gross Domestic Profit (GDP) for the KZN economy are on the horizon. This comes after an announcement by South African Breweries (SAB) of a R650 million capital expansion investment at its Prospecton Brewery based in the City’s South Durban Basin. 

SAB has forecast an optimistic future for the country’s economy, despite setbacks and paralysing effects of the COVID-19 pandemic and the floods. The investment, announced by SAB Chief Executive Officer Richard Rivett-Carnac, is also expected to benefit local suppliers to the tune of R652 million, as the brewery will be procuring services from them.

Applauding the announcement, KwaZulu-Natal Premier Nomusa Dube-Ncube, described the investment as an overwhelming vote of confidence in the future of the province. She said the investment will shine a spotlight on KwaZulu-Natal and attract further investment into the province’s economy. “As the provincial government, we are pleased that this injection will lead to the creation of 25 000 additional jobs throughout the value chain and we can safely say that this investment will positively impact at least 125 000 people in our province.

The Premier also commended SAB for showing confidence in the province, which will, over time, inject an additional
R4.4 billion into the province’s GDP. She also highlighted that SAB is already a major player in the province with 572 direct employees, with 50% of them based in Prospecton. “SAB has established a firm socio-economic footprint
in KwaZulu-Natal with the company investing more than R20 million per annum in socio-economic development ventures.”