Beer giant says it is on track with public interest commitments
South African Breweries (SAB), together with its parent company, Anheuser-Busch InBev (AB InBev), spent R209-million on public interest commitments in 2017, with investments in agriculture, enterprise development and societal benefit programmes in South Africa.
With the merger of SAB and AB InBev in 2016, the parties agreed to invest R1-billion in South Africa between 2017 and 2021.
Of the R209-million invested in 2017, R117-million was earmarked for agriculture; R67-million for enterprise development; and R25-million for societal benefits.
SAB and AB InBev Africa president Ricardo Tadeu said in late April that investments by companies such as SAB and AB InBev could be truly transformative in changing individual and community lives.
“We are committed to helping change the face of South Africa’s economic demographic through the smart development of our suppliers and entrepreneurs in the wider economy. We are also able to support emerging farmers, enhancing the hops and barley sectors and playing a part in building the skills we need for food security,” he stated.
SAB and AB InBev consider agriculture to be the area of greatest opportunity for economic renewal and impact. Therefore, about 61% of the total R1-billion public interest commitment investment will be earmarked for growing South Africa’s agriculture sector to become a net exporter of barley and hops.
This agreement is intended to create 2 600 jobs in the agriculture sector.
SAB has expanded this commitment to create 10 000 jobs across other sectors, primarily through entrepreneurship, over the five-year period.
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