NIGERIA – Guinness Nigeria Plc, one of the nation’s leading brewers, in Thursday disclosed its establishment of a N10 billion commercial paper (CP) on Wednesday, with a view to launching its inaugural CP issue under the programme on or before May 8th, 2015.
NIGERIA – Champion breweries revenue rose 47 percent to 3.3 billion in FY 2014, from 2.2 billion in FY 2013 (for comparison, Nigeria Breweries FY 2014 revenue was down 0.8 percent while Guinness’ 6-months to December 2014 was up 4 percent).
ZIMBABWE – International brewing giant, SABMiller Plc, has expressed concern over the declining economic situation in Zimbabwe which saw net producer revenue (NPR) of its local unit — Delta Corporation — shrinking by five percent.
EGYPT – Companies in Egypt are racing to meet the rising demand for mineral water in Upper Egypt in the wake of a barge, carrying 500 tonnes of phosphate, sinking in the river Nile on Wednesday in the Qena governorate.
ETHIOPIA – East African Bottling S.C (EABSC) started the construction of a 420-million Br plant two weeks ago in Bahir Dar, in the Amhara Regional State.
ZIMBABWE – Beverages manufacturer Delta Corporation (Delta) has warned of lower profits for the full year to March 2015, citing “changes in the sales mix and the deliberate strategies to preserve volumes”.
KENYA – Sugar miller Mumias has suspended four top managers in its marketing department for allegedly diverting ethanol meant for export into the local market, causing tax revenue leakage worth millions of shillings.
AFRICA – Guinness Nigeria Plc, a subsidiary of Diageo Plc, has announced a change in the leadership of the company.
SOUTH AFRICA – SABMiller reported a marginal rise in full-year beverage sales volumes, and said its results were hurt by the strength of the dollar against various currencies.
KENYA – The first batch of the Sh11 billion corporate bond issued by East African Breweries Limited (EABL) have been a huge attraction for investors with an eye on higher yields.