Consumers to spend more on beer as Treasury tables tax review

KENYA – The National Treasury of Kenya has proposed to review regulations that offer huge tax breaks to brewers using sorghum, millet and cassava in making the Keg beer from 80 per cent to 60 per cent. The Excise Duty (Remission of Excise Duty) (Amendment) Regulations, 2017, allows the manufacturers of Keg that is largely consumed by low income earners, to make an application to the Cabinet secretary Treasury to grant remission of excise duty at 80 per cent. Treasury CS Ukur Yatani has, however, proposed to review this remission…

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East African Breweries half year profits grow 33% to US$96.2m

KENYA – East African Breweries Limited has posted pre-tax profits of US$96.2 million in its half year results for the period ending 31 December 2018 representing a 33% increase in profits compared to the same period last year. In its financial results, the company’s net sales grew 13% to US$ 412 million (Kshs 41.6 billion) with Kenya and Uganda both recording a 12% increase in net sales while Tanzania’s sales were up 26%. EABL said that growth was broad-based across segments and regions, as the business benefited from lapping a…

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Kenya Breweries approves production of Senator Keg at the Kisumu plant

KENYA – The branded beer and spirits manufacturer, Kenya Breweries Ltd has approved the production of Senator Keg beer at its US$149.2 million Kisumu plant after a successful test of the production process. Led by KBL Managing Director Mrs. Jane Karuku, the testing was done by top officials from the brewer, indicating a major milestone in one of the company’s biggest investment. The assent which came in almost more than a year when the facility was commissioned for refurbishment will see initial production of Senator Keg for some years then…

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