KWV has paid off its obligation to the South African Wine Industry Trust (SAWIT) two years ahead of schedule - ridding itself of a massive millstone.

The wine and spirit company signed an agreement with the ANC government in 1998 to pay the money to help establish the Trust as part of its transformation from a national co-operative to a private company. KWV paid off the remaining ZAR110m (US$16.8m) of its ZAR368m obligation.

SAWIT was established in 1999 to manage the transformation of the wine industry at the foot of Africa and to represent a broad base of participants in the industry.