Alcohol bans cost liquor industry more than R36 billion in lost sales - study
18 February 2021 6:49 PM wine industry
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The annualised GDP loss for SA is almost R52b, according to a report on the bans' economic impact released by alcohol industry.
The government lifted South Africa's third ban on alcohol sales this month, but the damage to the economy can't be undone.
The liquor industry has reported R36.3 billion in lost revenue due to the prohibition.
Tax revenue loss (excluding excise) amounts to R29.3 billion (2.3% of tax revenue).
It puts South Africa's annualised GDP loss due to the booze bans at R51.9bn (1% of total GDP measured at market prices).
Govt can't keep switching liquor traders on and off like a light! - Solly Kramer
2 February 2021 7:42 PM
Share This: 'A very well-behaved return to the bottle' says the Norman Goodfellows CEO on first day of trading after booze regulations eased
On Tuesday, South Africans were finally allowed to buy liquor again for the first time in over a month.
President Cyril Ramaphosa announced a relaxation of Level 3 lockdown rules on Monday.
Have liquor traders seen the frenetic rush experienced with previous relaxations of the booze sale ban?
It was actually "a very well-behaved return to the bottle", certainly at Norman Goodfellows stores, reports Solly Kramer himself.