Heineken will invest more than 15.5 billion zar in the South African economy. We are talking about an amount corresponding to about $852.8 million that the company announces it will invest in the South African market through a series of projects. Heineken Beverages itself made this known at this year's South Africa Investment Conference, announcing an investment program that will take place over the next five years.

The program includes an investment of 3.8 billion zar (about $165 million) for the construction of a new greenfield brewery. In addition, Heineken will invest 1.7 billion zar (about $93.5 million) in a new malting plant. The company, infact, follows the announcement made in 2021 to acquire control of Distell and Namibia Breweries, which would be merged with Heineken South Africa to form a new Heineken majority-owned company: now, the Competition Tribunal approved the deal earlier this year, bringing to fruition the formation of Heineken's new African regional brand, Heineken Beverages.

Another 10 billion zar, or about $550.5 million, will be used for capital expenditure projects to expand and maintain existing operations in South Africa.

"This investment underscores our continued confidence in South Africa's development and sustainability -emphasizes Heineken South Africa ceo Jordi Borrut -. The 2023 SA Investment Conference is an incredible showcase of how private sector investment can help transform a country and its economy".

"We are honored to take part in this journey and further invest in South Africa, along with the entire region -he adds-. We fully support the conference's overall goals of socioeconomic development, sustainable job creation, poverty reduction, and inequality reduction".

The company also provided an update on plans announced at the conference in 2019 to build a 6.5 MW solar power plant at the brewery in Sedibeng, Botswana: according to the company, this is the largest stand-alone solar power plant powering a brewery in South Africa.