EThekwini Mayor Councillor Mxolisi Kaunda has commended South African Breweries (SAB) for the R240 million investment the company has made into the Prospecton Plant in Isiphingo, south of Durban this year.
This massive investment by SAB is geared towards creating additional jobs in the beer value chain of the city and the province.
He also thanked the management of SAB saying that despite the calamities eThekwini has faced in the past three years, they have decided to retain and expand their operations in the city.
Regional Director of SAB Nkanyiso Mncwabe said during the 2023 South Africa Investment Conference they pledged to invest R 5.8 billion. He said of that amount, R240 million has been spent in the expansion of the Prospecton Plant.
“In KwaZulu-Natal, SAB directly employs 572 workers of which the Prospecton accounts for 50 percent of the total employment in the province. In 2019, SAB’s total impact amounted to R9.2 billion contributed to the country’s Growth Domestic Product (GDP), which is equal to 1.1 percent of KwaZulu-Natal’s GDP. We invest over R20 million in socio-economic development annually. We are also glad that during the floods and civil unrest, we were able to retain jobs. We attribute that to the support we received from the Municipality,” said Mncwabe.