Tag: alcohol industry

COVID-19 alcohol ban hurts Distell’s full-year earnings

The alcohol industry has been through quite a roller coaster ride, since March this year. COVID-19 alcohol sales bans, led to job cuts, loss in taxes and a thriving black market. Releasing its full year results, South African-based global drinks company Distell reported a decrease of 64 per cent in earnings. Distell CEO, Richard Rushton CNBC Africa for more.

COVID-19 lock-down: This is how much SA’s alcohol ban cost the economy

After a two month ban on liquor sales, stores reopened today and thirsty consumers were waiting in line to replenish their stock. While the industry expects liquor sales to spike in the coming days, the ban on sales during the Covid-19 lock-downs has cost over 117,000 jobs. That’s according to the South African Liquor Brand owners Association (SALBA). SALBA CEO, Kurt Moore joins CNBC Africa for more.