Cape Town - Anheuser-Busch (AB) InBev has secured exchange control approval from the South African Reserve Bank (Sarb) for its proposed merger with SABMiller, it announced on Thursday.

“Approval from the Sarb represents an important milestone in the process of securing regulatory clearance for the transaction in South Africa,” AB Inbev, which has a JSE listing [JSE:ANB], said in a statement.

“Following on from the European Commission's approval of its recommended combination with SABMiller, AB InBev believes it is well on track to secure the necessary regulatory approvals that will allow for closing in the second half of 2016.”