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Nigeria | It has been a tough few years for Nigerian Breweries. Its 2023 annual accounts spilled plenty of red ink and a few weeks ago it had to suspend operations in two of its nine breweries. Its first quarter 2024 statements did not bring a lot of joy either. The firm, in which Heineken has a controlling stake, posted a loss after tax of NGN 52.1 billion (USD 38 million), Nigerian media reported on 29 April.
Africa
Nigeria | Heineken Nigeria, in which Heineken owns a majority stake, has temporarily shut two factories in the West African nation, which is plagued by the depreciation of the currency that increased costs and impaired the purchasing power of consumers. The Naira is at least 50 percent weaker than a year earlier.
Africa
South Africa | Bad news for drinkers and smokers: Sin taxes on alcohol will rise between 6.7 percent and 7.2 percent and above inflation. The measure is to help the government raise additional revenue to close its massive deficit. Duties on tobacco products will also increase between 4.7 percent and 8.2 percent.
Africa
Nigeria | It is hard to believe that Nigeria once used to be paved with gold for brewers. Market leader Nigerian Breweries, which is controlled by Heineken, said on 16 February, it is facing the worst downturn in the history of its operations in Africa’s most populous nation.
Africa
South Africa | About 50 workers at Heineken Beverages, which recently merged with South Africa’s alcohol producers, Distell, lodged a dispute with the Commission for Conciliation, Mediation and Arbitration (CCMA) to get the company to employ them on a permanent basis.
Africa
Cameroon | A Swiss entrepreneur is shaking up Cameroon's beer market. Eser Karatas’ brewery will come on stream before the year is out in the country's largest city – Douala – with ambitious goals.
Africa
South Africa | When Heineken divested the Strongbow licence in perpetuity at the behest of the regulators, no financial details were disclosed. This has not stopped pundits from wondering how much the buyer – Cider House Investments – would have had to fork out for the licence.
Africa
South Africa | We heard it on the grapevine that Signal Hill Products, the holding company for South Africa’s major craft brewer Devil’s Peak, is building a large cider production plant near Johannesburg. But only insiders would have known that Signal Hill was involved in Heineken’s divestment of its Strongbow brand in South Africa.
Africa
Central African Republic | At the same time when Russia promised to donate 50,000 t of wheat to the CAR by year-end - most likely in an effort to loosen Wagner’s grip on the country - media in the CAR reported the sighting of a large container in Cantonnier, a town some 600 km to the west of the capital on the border with Cameroon.
Africa
Nigeria | Diageo’s Nigerian arm will stop importing some spirits such as Johnnie Walker whiskey next year to help reduce its foreign-exchange needs and the impact of a volatile currency on its business.
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BRAUWELT on tour
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BRAUWELT on tour
