Rand Merchant Bank (RMB) has partnered with AB InBev’s corporate venture capital arm ZX Ventures to take an equity stake in alcohol-free South African drinks company The Duchess, creator of the world’s first alcohol free gin & tonic that’s proving globally popular.

The Duchess launched in 2016 and has since achieved multinational success by selling over 8 million bottles.

In 2020, it expanded its range to launch alcohol free wine spritzers to target the underserved alc...