by Samantha Camara
The British American Tobacco Company (BAT) is one of the largest Tobacco companies in the world and tops Stock Exchange lists internationally. Here are eight things you need to know about BAT in South Africa.
- BAT is one the largest companies (top 40) listed on the Johannesburg Stock Exchange (JSE).
- BAT is the top producer of cigarettes in South Africa, the Heidelberg factory produces about 27 billion cigarettes which are sold nationally and internationally.
- In 2014, BAT was accused of corporate espionage, allegedly paying people to spy on rival companies such as Carnilinx. BAT obviously denied all allegations.
- South African Revenue Services (SARS) started investigating BAT under allegations of money-laundering in 2014.
- Travelex cards are allegedly used to pay corporate spies across international borders, which is illegal.
- BAT estimates that unpaid taxes from the illegal cigarette trade cost the South African government R20-million.
- Before the 2015 budget speech, BAT officials were calling for no change to “sin tax”, unfortunately, a packet of cigarettes was announced to be going up by 82c.
- BAT produces brands popular cigarette brands Dunhill, Peter Stuyvesant Lucky strike and Kent.