almost 50 on average per year during the 2021-2025 YTD period. new brands entering the market illegally. over the last four years6. These top five include the following: These brands also gained market share following the recent excise hike. More specifically, following the increase in the fixed excise rate This may be ascribed to these brands being sold at significantly lower prices. The illicit segment not being tax compliant also means prices do not have to be lifted due to higher excise rates as is the case for the legal segment. To gain more insight in this regard, the