Also read the following related article from Bruce Whitfield's The Money Show:
British American Tobacco – one of the largest companies on the Johannesburg Stock Exchange – sold 322 billion cigarettes in the first half of its financial year.
This is 2.9% less than the first half of last year; somewhat better than the industry decline of 3.5%.
BAT is worth about R1.5-trillion.
It intends to invest heavily in the manufacture of e-cigarettes.
Listen to the audio for more detail.