Tax policy should drive growth – not stifle it. Yet, over the past decade, South Africa’s excise tax hikes have consistently outpaced inflation, making legal alcohol 43% more expensive than illicit substitutes.

The result? A growing black market, fewer jobs, and added pressure on an already fragile economy.

The beer industry is a major contributor to South Africa’s GDP and employment, but continued excise hikes could weaken its impact. Is it time for a more sustainable tax approach that balances economic growth, job creation, and government revenue?

In this panel discussion, Jeremy Maggs, media specialist and host of Moneyweb@Midday, will chat with Fatsani Banda, senior excise policy manager at SAB; Wendy Alberts, CEO of the Restaurant Association of South Africa; and Lucky Ntimane, convenor of the National Liquor Traders Council, to unpack the data and explore solutions that work for both the industry and policymakers.