The commitment goes ‘above and over’ the Public Interest Commitments that SAB agreed to last year as part of AB InBev’s takeover of SABMiller.
The entrepreneurship program covers SAB’s supply chain, including agriculture programs to support emerging farmers.
Its entrepreneurship programs include SAB KickStart, SAB Foundation, SAB Thrive and SAB Accelerator.
Ricardo Tadeu, Zone President for AB InBev Africa and SAB, said: “We are committed to making a substantial contribution towards South Africa’s national agenda of growing the economy through creating jobs and reducing unemployment, particularly among our youth.
“As a business that started out as an entrepreneur itself, we strongly believe that entrepreneurship is the most appropriate response to this issue and will help to galvanise the economy."
SAB says the creation of the new jobs is an ‘important vote of confidence’ in South Africa and a commitment to its people and the economy.
The company has highlighted job creation as one of its three key priorities, along with promoting nutrition and health, and reducing harm caused by the misuse of alcohol.
SAB KickStart: aimed at young people aged 18-35 years old, providing up-and-coming entrepreneurs with a foundation to begin their business through funding and support. Developed in May 1995 to address youth unemployment in South Africa.
SAB Foundation: an independent trust founded to benefit historically disadvantaged individuals and communities, primarily through entrepreneurial development in South Africa. Supports the growth of SMEs and a culture of entrepreneurship.
SAB Thrive and SAB Accelerator: supplier development programs that aim to create a diversified and inclusive supply chain by supporting the growth and creation of Black-owned suppliers through business development support and funding.
SAB agriculture initiatives: SAB and AB InBev Africa have committed to establishing thriving barley, hops, maize and malt industries in South Africa that strengthen rural employment and job creation, accelerate the development of emerging farmers and enable SA to become a net exporter of hops and malt by 2021.
A TV commercial was launched at the weekend as part of a mass media Entrepreneurship Campaign. A roadshow for the entrepreneurship programs will visit six cities across South Africa during October.
Business Unity South Africa (BUSA) CEO Tanya Cohen welcomed the initiative, saying: “Systemically supporting entrepreneurship opportunities within SAB’s supply chain will make a meaningful contribution to enterprise development and job creation – both of which are critical to transformation for inclusive economic growth.”
SAB was founded in 1895, and is South Africa's top brewer and leading distributor of beer. It is now a subsidiary of AB InBev, following AB InBev's takeover of SABMiller last year. The company operates seven breweries and 40 depots in South Africa with an annual brewing capacity of 3.1 billion liters. Its portfolio includes Carling Black Label, Hansa Pilsener, Castle Lager, Castle Lite and Castle Milk Stout.