SAB Zenzele chair: Economy set to rebound after lockdown and alcohol bans

South African Breweries (SAB) Zenzele chair Penuell Maduna says although the Covid-19 pandemic created disruptions and uncertainty to the domestic and global economy, the economy is “not tanking” and will soon be showing signs of recovery. 

“The consequences of the pandemic and the lockdown were unavoidable … We are looking at a moment of take off but over time we will be in full flight as an economy,” he said. 

Maduna made the comments on Monday during the launch of the company’s broad-based black economic empowerment (B-BBEE) scheme, Zenzele Kabili.

Second round

The second round of the share scheme will be launched at the end of May and will see shareholders own R5.4 billion worth of shares in global brewing giant Anheuser-Busch InBev. 

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