Streaming issues? Report here
Inside EWN 1000 x 1000 2020 Temp Inside EWN 1000 x 1000 2020 Temp
Inside EWN
19:00 - 21:00
volume_up
volume_mute

Up Next: Best of 702
See full line-up
Inside EWN
19:00 - 21:00
Home
arrow_forward
Business

Alcohol ban: Consol, hanging by a thread, burns through millions to stay alive

18 January 2021 6:39 PM
Tags:
Alcohol ban
The Money Show
Bruce Whitfield
consol
consol glass
Lockdown
COVID-19
covid-19 in south africa
Mike Arnold

It cannot stop its furnaces, so it must keep them going. Bruce Whitfield interviews Mike Arnold, CEO at Consol Glass.

The glass is half empty.

Optimist

Consol Glass is burning through R8 million per day – hoping it can keep it up until the prohibition on the sale of alcohol is lifted.

It cannot stop its furnaces, so it must keep them going despite there being no orders for wine and beer bottles.

© viteethumb/123rf.com

RELATED: Alcohol ban was wildly effective at preventing trauma - data


The company has warned of imminent job cuts and added disinvestment if the third alcohol ban is not lifted very soon.

The first two alcohol bans resulted in losses of more than R1.5 billion to the glass packaging industry.

Consol has, in a desperate bid to save jobs in the short-term, reallocated R800 million meant for the upkeep of its furnaces towards surviving the alcohol ban by maintaining operations.

The Money Show’s Bruce Whitfield interviewed Mike Arnold, CEO at Consol Glass.

In the next couple of weeks, warehouses will be full… We are still producing… but our sales will [soon] ground to a halt.

Mike Arnold, CEO - Consol Glass

If there’s no certainty… We’re not going to rebuild those furnaces…

Mike Arnold, CEO - Consol Glass

The alcohol industry employs well over a million people…

Mike Arnold, CEO - Consol Glass

Listen to the interview in the audio below.


This article first appeared on CapeTalk : Alcohol ban: Consol, hanging by a thread, burns through millions to stay alive




18 January 2021 6:39 PM
Tags:
Alcohol ban
The Money Show
Bruce Whitfield
consol
consol glass
Lockdown
COVID-19
covid-19 in south africa
Mike Arnold

More from Covid-19 coronavirus explained

How effective was South Africa’s Covid-19 recovery stimulus?

26 April 2021 6:59 PM

The Money Show’s Bruce Whitfield interviewed Isobel Frye, Director at the Studies In Poverty And Inequality Institute.

Share this:
Read More arrow_forward

'People are hungry, their kids at risk. Find money, and extend Covid-19 grant'

23 April 2021 9:54 AM

"There’s a Constitutional obligation on the state to ensure that nobody goes hungry," says Lynette Maart (Black Sash).

Share this:
Read More arrow_forward

[EXPLAINER] Over 60? Get a flu jab first (wait 2-3 weeks) then a Covid-19 jab

22 April 2021 8:58 AM

Dr Angelique Coetzee explains why you should get a flu vaccine before getting one for Covid-19 if you are older than 60.

Share this:
Read More arrow_forward

Companies benefitting from Covid-19 TERS to be audited

12 April 2021 7:33 PM

Bruce Whitfield interviews Ruth Maforimbo of People Advisory Services at EY Europe, Middle East, India and Africa.

Share this:
Read More arrow_forward

Should you keep working from home after the pandemic?

12 April 2021 6:48 PM

Will doing so affect you negatively in the long term? Bruce Whitfield interviews Linda Trim, Director at Giant Leap.

Share this:
Read More arrow_forward

Discovery medical aid to vaccinate 50 000 of its 3 million members per day

29 March 2021 6:27 PM

The Money Show’s Bruce Whitfield interviews Dr Ryan Noach, Chief Executive at Discovery Health.

Share this:
Read More arrow_forward

Alcohol bans, each one of them, were wildly successful - and utterly devastating

26 March 2021 11:19 AM

Exactly one year ago, the government banned alcohol. Hospitals emptied out, and the economy crashed and burned.

Share this:
Read More arrow_forward

'South Africans have done well to change their behaviour'

25 March 2021 11:33 AM

"SA has managed to do well compared to EU countries, but not so well compared to other African countries," says Dr Anam Nyembezi.

Share this:
Read More arrow_forward

Covid-19 vaccine arrival brings hope that the pandemic may soon start ending

1 February 2021 7:01 PM

Bruce Whitfield interviews Prof Jeffrey Mphahlele (SA Medical Research Council) about the significance of the vaccine's arrival.

Share this:
Read More arrow_forward

[EXPLAINED] Can your employer force you to take a Covid-19 vaccine?

25 January 2021 6:49 PM

Can employers make it compulsory for employees to get vaccinated against Covid-19? A labour lawyer explains on The Money Show.

Share this:
Read More arrow_forward

More from Information about Covid-19 coronavirus

How effective was South Africa’s Covid-19 recovery stimulus?

26 April 2021 6:59 PM

The Money Show’s Bruce Whitfield interviewed Isobel Frye, Director at the Studies In Poverty And Inequality Institute.

Share this:
Read More arrow_forward

'People are hungry, their kids at risk. Find money, and extend Covid-19 grant'

23 April 2021 9:54 AM

"There’s a Constitutional obligation on the state to ensure that nobody goes hungry," says Lynette Maart (Black Sash).

Share this:
Read More arrow_forward

[EXPLAINER] Over 60? Get a flu jab first (wait 2-3 weeks) then a Covid-19 jab

22 April 2021 8:58 AM

Dr Angelique Coetzee explains why you should get a flu vaccine before getting one for Covid-19 if you are older than 60.

Share this:
Read More arrow_forward

Companies benefitting from Covid-19 TERS to be audited

12 April 2021 7:33 PM

Bruce Whitfield interviews Ruth Maforimbo of People Advisory Services at EY Europe, Middle East, India and Africa.

Share this:
Read More arrow_forward

Discovery medical aid to vaccinate 50 000 of its 3 million members per day

29 March 2021 6:27 PM

The Money Show’s Bruce Whitfield interviews Dr Ryan Noach, Chief Executive at Discovery Health.

Share this:
Read More arrow_forward

Alcohol bans, each one of them, were wildly successful - and utterly devastating

26 March 2021 11:19 AM

Exactly one year ago, the government banned alcohol. Hospitals emptied out, and the economy crashed and burned.

Share this:
Read More arrow_forward

'South Africans have done well to change their behaviour'

25 March 2021 11:33 AM

"SA has managed to do well compared to EU countries, but not so well compared to other African countries," says Dr Anam Nyembezi.

Share this:
Read More arrow_forward

Covid-19 vaccine arrival brings hope that the pandemic may soon start ending

1 February 2021 7:01 PM

Bruce Whitfield interviews Prof Jeffrey Mphahlele (SA Medical Research Council) about the significance of the vaccine's arrival.

Share this:
Read More arrow_forward

[EXPLAINED] Can your employer force you to take a Covid-19 vaccine?

25 January 2021 6:49 PM

Can employers make it compulsory for employees to get vaccinated against Covid-19? A labour lawyer explains on The Money Show.

Share this:
Read More arrow_forward

Covid-19 vaccine: Government may have to milk bone-dry taxpayers some more

18 January 2021 6:25 PM

Treasury is mulling raising taxes, says Prof Adrian Saville, Chief Executive of Cannon Asset Managers.

Share this:
Read More arrow_forward