From Creamer Media in Johannesburg, this is the Real Economy Report.

Sashnee Moodley:

Beer maker South African Breweries and South Africa’s first majority black-owned glass container manufacturer Isanti Glass marked three years of partnership at a commemorative event on July 11. Darren Parker tells us more.

Darren Parker:

SAB and Isanti Glass have enjoyed three years of successful business together, a fact which they celebrated at an event hosted at Isanti’s manufacturing facility in Roodekop, in Johannesburg. It was attended by Trade, Industry and Competition Deputy Minister Fikile Majola, Gauteng Premier Panyaza Lesufi, and senior SAB and Isanti executives, and served to commemorate the economic growth initiative aimed at empowering the glass industry. 

The event was held to bring together public and private stakeholders to show their support for economic initiatives such as the establishment of Isanti, which serves not only SAB but other beverage makers, including beer, soft drinks, wine, spirit and food processors.

SAB CEO Richard Rivett-Carnac…

Darren Parker:

In 2019, packaging company Nampak entered into a sale agreement for the sale of its glass business for an estimated R1.5-billion as a going concern to Isanti Glass, which is 35% owned by SAB and 60%-owned by investment group Kwande Capital, with the balance held by Isanti employees.

This makes Isanti one of only two primary glass container manufacturers in South Africa to service beverage and food manufacturers, with an estimated market share of 25%.

The transaction created the first majority black-owned glass manufacturer in South Africa, which formed part of SAB’s efforts to deliver on its commitment to government to convert all its existing suppliers in line with the country’s transformational goals.

SAB CEO Richard Rivett-Carnac…

Darren Parker:

As much as 50% of Isanti’s glass products are recycled, which contributes to SAB’s circular packaging commitment through the use of broken glass – or cullet – in its glass containers.

SAB CEO Richard Rivett-Carnac…

Darren Parker:

Since 2022, SAB has invested more than R3-billion in returnable packaging supply chain transformation, with more than 30 000 retailers being supported through the company’s responsible trading programme.

SAB has also committed to investing R5.8-billion in South Africa this year, as announced at the fifth yearly South African Investment Conference held in April.

Sashnee Moodley:

That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy. Don’t forget to listen to the audio version of our Engineering News daily email newsletter.