Drinking spots are still shut

South Africa’s tavern and shebeen owners have called for the government to lift the ban on the sale of alcohol in seven days or risk collapsing the sector.

The alcohol industry has been pleading for the government to allow producers and traders to sell alcohol, following the latest trade restriction the government imposed last month. The ban, which followed two other restrictions last year, came after South Africa was hit by a second wave of Covid-19 infections. The government said it had put the ban in place to keep hospital beds ready for pandemic cases and free of alcohol related trauma cases. 

But the industry has been critical of the government’s decision, saying that it was putting jobs and livelihoods at risk and there are better solutions to deal with the infections, such as a stricter curfew and allowing off-site sales to take

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Beer bottles filling on the conveyor belt in the brewery factory.

  • South Africa’s alcohol industry employs more than 415 000 people.
  • Distell said it had reduced the number of its contract workers to 326, from 536, in January last year.
  • The country’s biggest beer maker, SAB, announced that it had suspended 550 temporary contract workers.

Liquor producers and companies along the value chain are beginning to reel under the effects of the ongoing alcohol sale ban, with some forecasting further cuts to already reduced number of contract workers, and others factoring in the possibility of retrenchments or preparing to turn off their taps for good. 

The third government-imposed ban on the sale of alcohol in December was implemented to keep hospital beds free of liquor-related trauma cases, but the move has come at a hefty cost for an industry that employs more than 415 000 people.

On Monday, Savanna

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The alcohol industry has asked for its excise tax to be deferred

  • Alcohol producers and traders have called for Covid-19 restrictions to be eased and for liquor trading to be allowed for off-site consumption, but at present face a blanket ban.
  • The latest request is the second from the industry, which applied for a deferment during the country’s second alcohol sales ban last year.
  • Alcohol producers and traders pay SARS about R2.5 billion a month in excise tax for imported and local products but the ban means that companies will have to pay excise tax for products that are sitting in their warehouses and can’t be sold due to the ban.

South Africa’s alcohol industry has asked for another deferment of its excise tax payment until the latest sales alcohol ban is lifted.

The industry’s request comes after President Cyril Ramaphosa’s Monday night announcement that the ban on the

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TipRanks

2 “Strong Buy” Penny Stocks That Could Rally Over 100%

Bank of America has a strong reputation for keeping finger on the pulse of the financial world – and one of its key tools is the Global Fund Manager Survey, conducted monthly and seeking opinions from more than 200 hedge fund, mutual fund, and pension fund managers who hold a combined $645 billion in AUM. It’s the largest regularly conducted survey of its kind. And BofA most recent findings show that Big Money is feeling confident. More than 90% of investors surveyed believe that 2021 will show a significant recovery from 2020, that asset allocations to stocks and commodities are at their highest in 10 years, and there’s a general belief that global growth is at an all-time high. So, there is a general consensus that now is the time to invest. The only remaining question is, invest in

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The Outsurance team, trained by Clinix Health group, disinfect taxis at the Esangweni taxi rank in Gauteng, to help curb the spread of Covid-19.

PHOTO: Chanté Schatz, News24

  • There are fears that taxi ranks in Limpopo may become Covid-19 super-spreaders following the death and infection of several taxi drivers and owners in the region.
  • Transport MEC Mavhungu Lerule-Ramakhanya is set to talk with stakeholders over the public’s concern and assist with the necessary resources to help curb the spread of the virus.
  • Health MEC Phophi Ramathuba indicated that in 2020, Limpopo recorded an average of 20 new cases a day – so far in 2021, the province had seen more than 1 500 new cases a day.

Limpopo Transport and Community Safety MEC Mavhungu Lerule-Ramakhanya will engage the taxi industry over concerns that ranks have become Covid-19 super-spreaders, as new infections in the province continue to rise with private

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Alcohol. Picture: iStock/Gallo Images

  • The South African Breweries (SAB) has attacked the alcohol ban, saying that government has unfairly criminalised the industry, and were discriminating against its workers and their families
  • The SAB says it would ‘consider all options and pursue every possible alternative to protect the lives and livelihoods of those depending on it’
  • It says it supports over a million livelihoods throughout its value chain

The South African Breweries (SAB) launched a blistering attack on the alcohol ban, saying on Tuesday that the government has unfairly criminalised the industry, and that it would ‘consider all options’ to protects the livelihoods of those depending on it.

The company said in a statement that it had heeded President Cyril Ramaphosa’s initial call to form a social compact with industry players and social partners to reduce the harmful consumption of alcohol, especially amongst consumers who “unfortunately, have not behaved responsibly.”

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TipRanks

The Bottom Is in for These 2 Stocks? Analysts Say ‘Buy’

Today, we’re looking at two small-cap biotech firms whose stocks have struck a rut. Each company has hit a recent clinical setback that sent the share price falling, erasing previous gains and sending it back down to low levels. Setbacks of this sort are not uncommon in the biotech industry, and in fact highlight the risk and speculative nature of the industry. So what should investors do, when a stock collapses? Is this a matter of poor fundamentals? And has the stock’s price found its low point yet? That’s where the Wall Street pros come in. Noting that each is set to take back off on an upward trajectory, some 5-star analysts see an attractive entry point for both. Using TipRanks’ database, we found out that these two tickers have earned Moderate or Strong Buy consensus ratings from

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Crime scene following a cash-in-transit robbery in Krugersdorp.

PHOTO: Sharon Seretlo/Gallo Images

  • The Gauteng provincial police commissioner held an urgent engagement with CIT stakeholders on Wednesday.
  • Fidelity and G4S were identified as being hit the hardest.
  • Two CIT heists have been reported in the last two days.

Gauteng police commissioner Lieutenant General Elias Mawela says that there has been a worrying spike in cash-in-transit (CIT) heists over this festive season, compared to last year.

On Wednesday, Mawela – along with his deputy, Major General Tommy Mthombeni and provincial Hawks head Major General Ebrahim Kadwa – held an urgent meeting with stakeholders in the CIT industry following the recent spate of heists in the province.

Gauteng police spokesperson Brigadier Mathapelo Peters said:

Comparing the rate of occurrence of incidents this year to last year’s rate, Lieutenant General Mawela confirmed that there is a worrying spike in the rate and frequency

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eSports describes the world of competitive, organized video gaming. Competitors from different leagues or teams face off in the same games that are popular with at-home gamers: Fortnite, League of Legends, Counter-Strike, Call of Duty, Overwatch and Madden NFL, to name a few. These gamers are watched and followed by millions of fans all over the world, who attend live events or tune in on TV or online. Streaming services like Twitch allow viewers to watch as their favorite gamers play in real time, and this is typically where popular gamers build up their fandoms.

Short answer? A lot of people. According to a report from Newzoo, a market analytics company, 380 million people worldwide will watch eSports this year, including 165 million eSports enthusiasts (a term that describes frequent viewers, as opposed to occasional viewers). The bulk of these enthusiasts watch from North America, China and South Korea.
Tournaments
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