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Sugar tax to cost 60,000 jobs in South Africa - industry executive

Reuters

JOHANNESBURG (Reuters) - South Africa could lose 60,000 jobs in the beverage industry due to a proposed tax on sugary drinks, chairman of Coca-Cola Beverages Africa, Phil Gutsche, said on Tuesday.

The National Treasury has proposed a 20 percent tax on sugar sweetened drinks under a plan that delighted health campaigners and angered drink makers. The sector employs about 200,000 people in a country where unemployment is at near record high.

(Reporting by Tiisetso Motsoeneng; Editing by James Macharia)