Nigeria’s Govt plans tariff increase on alcohol to raise taxes

NIGERIA - The Minister of Finance, Mrs. Kemi Adeosun has recommended increasing tariff rates on alcohol and tobacco products with implications on their health effects as well as a means of raising revenue. Adeosun added that her recommendation is in line with the implementation of the ECOWAS common External Tariff (CET), one of the instruments…

Tanzania Breweries refutes systems hacking claims

TANZANIA – Tanzania Breweries Limited (TBL) has clarified that its data systems are safe and secure, putting to rest speculations and claims gaining ground on various media channels that some unknown hackers had breached the company’s systems, endangering most of its sensitive records. Speaking to reporters in Dar es Salaam yesterday, TBL’s Marketing Director for…

Heineken receives US$49.8 million Forex Access in expansion plans

ETHIOPIA- Heineken has received US$49.8 million Forex Access following the central bank’s instruction to commercial banks to pay the company for its expansion project. The government through the office of the Vice Governor, Yohannes Ayalew had ordered presidents from various banks to make a commitment concerning the same to save a degrading forex and more…

Mounting losses at Seven-Up lead to ₦10.3bn loss in nine months

NIGERIA - Seven-Up Bottling Company Plc (“SBC”) reported its nine months results on Tuesday, with the ailing company posting a net loss of ₦10.3bn, a 113% increase from the ₦4.8bn loss it recorded in the previous year. The company, which recently exited the Nigerian Stock Exchange over its continued dismal performance in recent years, said…

Budweiser unveils symbol for its beers brewed with 100% renewable electricity

USA – Brewing major Budweiser has revealed its commitment to sustainability with its announcement of a renewable electricity symbol that indicates when a Budweiser beer is brewed with 100% renewable electricity. As part of a commitment to brewing all of its beers around the world with 100% renewable electricity by 2025, in line with parent…

EABL secures US$125 million loan for second Kenya plant

KENYA - East African Breweries Limited (EABL) has secured a Sh12.5 billion (US$125 million) long-term loan from Standard Bank Group to fund the ongoing construction of its Senator Keg factory in Kisumu. The completion of the factory is expected  to create 110,000 direct and indirect jobs and push sorghum demand from the current 20,000 tonnes…

Carlsberg India establishes new brewery in Karnataka

INDIA – Carlsberg has established a new brewery in Karnataka, India with the aims to further strengthen its capacity and foothold in the southern region, reinforcing its commitment to India and strengthening its increasing footprint in the country. According to the company, the establishment of this new brewery is an aspirational step to further strengthen…

ThaiBev bets big on Vietnam, buys US$4.8 b stake in largest brewery

VIETNAM - Thai Beverage Plc is doubling down on Vietnam after it partnered with a local company to buy a $4.8 billion stake in the country’s largest brewer, a key step for the company controlled by billionaire Charoen Sirivadhanabhakdi as it seeks to dominate Southeast Asia’s beverage market. Vietnam Beverage, the local unit which ThaiBev holds a…

Molson Coors signs agreement to distribute Snow beer in UK

UK - Molson Coors has signed an agreement with China Resources Snow Breweries (CRSB), which gives the brand exclusive rights to distribute Snow beer to the UK market. Snow’s main market is China, and CRSB claims it is the highest-selling beer by volume in the world. “Consumers’ tastes are continuing to diversify which makes the beer market…