Alcohol Sale Industry - Balancing the scales – economics vs social impact.
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GUEST - Angela Russell is CEO of Drinks Federation of South Africa
The liquor industry is a key contributor to the economy, directly creating one million jobs in the value chain and about 500 000 jobs directly. It contributes significantly to tax revenues, with a total of R72 billion, along with an additional R173 billion to the country's GDP.
The scourge of illicit and counterfeit brands, harmful, backyard-made alcohol, the seriousness of underage drinking, road fatalities caused by drunk driving and irresponsible trading, the country sits with a huge challenge. This is significant in a country where unemployment is rampant.
But unless we trade responsibly, the consequences are dire, not only for the industry, but also for communities where we operate. This is really about balancing the scales – economics vs social impact.
The liquor industry is a key contributor to the economy, directly creating one million jobs in the value chain and about 500 000 jobs directly. It contributes significantly to tax revenues, with a total of R72 billion, along with an additional R173 billion to the country's GDP.
The scourge of illicit and counterfeit brands, harmful, backyard-made alcohol, the seriousness of underage drinking, road fatalities caused by drunk driving and irresponsible trading, the country sits with a huge challenge. This is significant in a country where unemployment is rampant.
But unless we trade responsibly, the consequences are dire, not only for the industry, but also for communities where we operate. This is really about balancing the scales – economics vs social impact.