SABMiller announces South African political donations
SABMiller plc announced today that, following due consideration, the SABMiller Board has decided that the group should provide funding to political parties in the forthcoming South African elections as part of the group's continuing commitment to encourage the development of a multi-party democracy in South Africa.
The Board has asked its South African subsidiary, SAB Ltd, to make a donation of R5 million, which will be distributed across the following six parties; the African National Congress party (ANC); the Democratic Alliance (DA); the Inkatha Freedom Party; the United Democratic Movement; the Independent Democrats; and the Congress of the People party (COPE).
Meyer Kahn, Chairman of SABMiller plc, commented:
"Great strides have been made in recent years to foster a vibrant, multi-party democracy in South Africa and SABMiller is proud to have made a contribution to that achievement. Political progress will remain vital to the country's continued stability and growth, and for that reason we believe it continues to deserve our support."