South Africans could lose 60,000 jobs on sugar tax

by Reuters 0

Kenya seeks bidders for five state-owned sugar companies

South Africa could lose 60,000 jobs in the beverage industry due to a proposed tax on sugary drinks, chairman of Coca-Cola Beverages Africa, Phil Gutsche, said on Tuesday.

The National Treasury has proposed a 20 percent tax on sugar sweetened drinks under a plan that delighted health campaigners and angered drink makers. The sector employs about 200,000 people in a country where unemployment is at near record high.

 

(Reporting by Tiisetso Motsoeneng; Editing by James Macharia)