ABInBev allays job cut fears over SABMiller merger
The brewers’ promised to set up a R1 billion fund to support small local craft beer producers.
JOHANNESBURG - Economic Development Minister Ebrahim Patel says global brewer AB Inbev has given government the assurance that no employee will be retrenched against their will as a result of the merger with SAB-Miller.
South Africa is just one of many countries that AB Inbev needs to secure regulatory approval for its $105 billion takeover bid.
The brewers promised to set up a R1 billion fund to support small local craft beer producers, assist small farmers and uphold broad-based empowerment.
Patel says the next step is to increase jobs.
"At the moment we are an importer of barley, which is one of the ingredients of the manufacture of beer. The commitment the party has made is to work very closely with emerging farmers and commercial farmers, so that South Africa can actually become a net exporter of malt."