How South Africa’s alcohol ban has hit brewing giant AB InBev – Wall Street Journal
South Africans drink a lot of beer: AB InBev, which bought SAB Miller in 2016, makes one in four beers sold globally, and we are one of its biggest markets. So it's not surprising that the company took a $2.5 billion write-down tied to a worst-case scenario for how the coronavirus pandemic would affect sales here. Their scenario was not wrong, as we now know: the government has twice banned the sale of alcohol to take pressure off hard-pressed health services. Those alcohol bans show in AB InBev's sales figures – the company says volumes in South Africa have dropped over 60% in the quarter. So as South African drinkers bemoan their empty fridges and the effect of the ban on the economy, its worth remembering that the ban has global ramifications. – Renee Moodie
Budweiser brewer takes $2.5 billion write-down in South Africa over Covid-19
By Saabira Chaudhuri
Anheuser-Busch InBev NV reported a sharp drop in second-quarter sales as beer consumption across much of the world dropped and took a $2.5 billion write-down on its business in South Africa, where alcohol sales have been banned.
___STEADY_PAYWALL___