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The Beer Association of South Africa (BASA) notes Finance Minister Enoch Godongwana’s announcement that excise beer products will see a 5.5% increase, which is in line with inflation. While we are pleased that the local beer industry was not faced with another above inflation increase, we are disappointed that the Minister failed to address the issue of relief for our smaller craft brewers in particular. With these breweries having received zero compensation from government to date despite the previous four alcohol bans forcing them to shut their doors for a total of 161 days (just over four months) between March 2020 and July 2021, they are still rebuilding their businesses and with no relief offered, as well as another increase in excise, their sustainability as a sector remains at risk.
The minister of finance will present the 2022 budget speech whilst investors await good news. The City of Joburg has given R2,2 billion in rebates back to…