Alcohol industry releases data on cumulative impact of three alcohol bans, showing R36.3 billion in lost revenue Friday, 19 February, 2021 FTI Consulting
The cumulative impact of the three alcohol bans has put 200 200 jobs supported by the alcohol value chain at risk in the nation s informal and formal economy.
An assessment of the economic impact of the three alcohol bans in 2020, including the five-week ban between 29 December 2020 to 2 February 2021, which tracks the cumulative impact on the alcohol industry was completed on 12 February 2021, revealed the damaging financial implications of the Government s prohibition decree.
Kurt Moore, CEO, South African Liquor Brandowners Association (SALBA), said that not only is the industry and its people suffering, but the Government itself was experiencing considerable losses to the fiscus. According to the assessment, the tax revenue loss (excluding excise) to the fiscus from th