Delta Corp urges Govt to adopt new excise duty regime

ZIMBABWE – Zimbabwe’s largest beverages manufacturer Delta Corporation has proposed that Government adopts a new excise duty regime on alcoholic beverages premised on absolute alcohol content as opposed to the type of alcoholic beverage, ahead of the 2018 National Budget. In its 2018 National Budget Submission to the Ministry of Finance and Economic Development seen…

House panel accuses NAFDAC of failure to perform duty

NIGERIA - The House of Representatives ad hoc committee investigating the production and distribution of soft drinks manufactured by the Nigerian Bottling Company (NBC) and other soft drinks producers in the country accused the National Agency for Food and Drug Administration and Control (NAFDAC) of compromise and failing in its duties to live up to…

AB InBev profits surge 50% as SABMiller boosts operations

BELGIUM – The world’s leading brewery, AB InBev has reported a robust growth in its nine-month financials for the period ending September 30 2017, boosted by the former SABMiller operations in key emerging markets and premiumisation efforts. The brewer, which has been incorporating SABMiller’s business in its operations following its acquisition of its number two…

Guinness Nigeria off to a strong start in Q1 as revenue rises 30%

NIGERIA - Guinness Nigeria Plc on Thursday reported a 30% increase in revenue for the first quarter ended 30th September 2017. The Nigerian unit of British drinks maker Diageo Plc said that sales hit N29.9bn ($82.3m) in the first three months of its financial year, up from N23bn ($63.3m) it recorded in the same period…

Craft beer boom pushes number of UK breweries past 2,000

UK - More than 300 new breweries were launched in the UK last year as a boom in craft beer sales encouraged startups with specialist offers ranging from gluten-free beer to ale made from leftover bread. Growth in sales of craft beer in both pubs and supermarkets has encouraged more people interested in home brewing…

House panel pledges to continue soft drinks probe

NIGERIA - Majority Leader of the Federal House of Representatives, Hon. Femi Gbajabiamila, has said that the National Assembly has power to carry out an investigation into a matter involving privately-run companies. Speaking as the chairman of the House ad hoc Committee investigating the production and distribution of soft drinks manufactured by the Nigerian Bottling…

Cold-pressed juice maker receives US$6 million PE funding

INDIA - Rakyan Beverages Pvt. Ltd, the maker of organic cold-pressed juices and other beverages sold under the brand RAW Pressery, has raised around $6 million (Rs40 crore) to fund expansion. The capital was raised entirely from its existing venture capital investors Sequoia Capital, Saama Capital and DSG Consumer Partners. RAW Pressery had last raised…

Beverage producers decline invitation to public hearing on soft drinks

NIGERIA - The Director General, Nigeria Employers’ Consultative Association (NECA), Mr. Olusegun Oshinowo, has asked its members to decline an invitation by the Federal House of Representatives ad-hoc Committee investigating the production and distribution of soft drinks manufactured by the Nigerian Bottling Company Limited (NBC) and other drinks produced or marketed in Nigeria. “On the…

Zambia water company to start producing carbonated drinks

ZAMBIA - Three years after investing US$2 million in a mineral water packaging plant in Solwezi, Horn of Africa Bottling and Manufacturing Company is expanding its business to start producing carbonated drinks. A check by ZANIS at Solwezi Spring natural mineral water plant found Horn of Africa making extensions to its buildings. Company Director Negusse Ogbe…