AB INBEV SAYS NEW $250 MILLION NIGERIAN BREWERY STARTING OPERATIONS SOON

CAPE TOWN-  Anheuser-Busch InBev, the world’s largest beer maker expects its new $250 million brewery being built in Sagamu, Nigeria, to start production in the middle of this year, said the head of its Africa operations on Thursday.

Ricardo Tadeu told Reuters, “For the long term, in five to 10 years, Africa will be an important growth driver for the global company.”

He said the company was delighted about growth prospects in Africa’s most populous nation and around the continent.

“We have a clear strategy to keep a good level of growth in Africa based on developing our brands in different segments of the market,” Tadeu said.

He said growth in African countries excluding South Africa is a, “healthy growth rate in the mid-teens”.

The global beer maker giant based in Belgium said on Thursday it expected revenue and core profit to grow strongly again in 2018, with revenue per hectolitre increasing by more than inflation and its cost would be less.

The brewer is also excelling in their savings department, as they achieved $381 million in savings from its near $100 billion purchase of rival SABMiller, which boosted their presence across Africa.

Photo Credit- RetailDetail

 

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