Punitive tax could cause job losses, Coca-Cola says

This week, the beverage giant told BusinessWeek the sugar tax, which takes effect on April 1, could lead to job losses locally and curtail investment and employment creation.

Finance and Economic Development minister, Thapelo Matsheka announced the new tax in his recent budget speech saying it would contribute to local tax revenue while helping fight obesity in the country. From April 1, a levy of two thebe per gram of sugar above the content of four grammes of sugar per 100 millilitres will be applied on sweetened beverages.