Tag Archives: Diageo
Diageo: Latest News
Reuters, 1:00 am
Africa’s informal alcohol market is about four times bigger than its $11 billion commercial market, analysts say. Home brews have a strong tradition rooted in centuries-old African rituals. AB InBev needs to develop products affordable enough to tap the informal beer and alcohol markets, says InBev’s new Africa head. AB Inbev’s big rivals in Africa – Heineken and Diageo – have also launched lower-priced drinks made with local ingredients that are affordable for more people.
Dana Sanchez, 5:34 pm
First quarter results from the world’s third largest brewery, Heineken, show Nigerians are consuming more beer than a year ago despite hard times — or because of them. Results for Guinness, Nigeria’s No. 2 brewer, tell a different story. Guinness Nigeria’s stock is down 42 percent since the beginning of 2015. Heineken the No. 1 beer maker, saw its stock fall 36 percent in the same period. Consumers are turning from traditional home brews to competing products made by multinationals.
Kevin Mwanza, 2:49 am
South African wine and spirit maker Distell Group posted an 18 percent profit rise in its half year result, helped by a weaker rand in its local market, but poor sales in Angola due to falling oil prices dampened the its earning in the region. Distell’s sales rose 14.6 percent in South Africa where the local currency depreciated 22 percent in 2015, boosting earnings from overseas exports when converted to rand.
Kevin Mwanza, 2:12 pm
Diageo, the maker of Guinness beer and Johnnie Walker whisky, offered about $208 million to buy more stake in Guinness Nigeria, a listed firm that houses Diageo’s brands in the populous west African nation. Diageo already hold a 54.3 percent stake in Nigerian company, but wants to increased its shareholding to 70 percent.
Kevin Mwanza, 3:59 am
Foreign companies and businessmen operating in South Sudan are caught up in foreign exchange quagmire as the political crisis that sunk a East African nation into a civil war nearly two years show no signs of relenting. They are now stuck in the political deadlock that has caused them to incur huge foreign exchange losses over the last two years.
Kevin Mwanza, 5:00 am
The continent has the fastest growing population in the world and is expected to cross the four billion people mark by the close of the 21st century. With increased urbanization cities like Lagos and Dar es Salaam that are expected to witness a jump in people living there are becoming huge targets for beer companies looking for market and fund managers are investment in such firms.
Kevin Mwanza, 11:56 am
Diageo, world’s largest spirit maker, has said it has agreed to dissolve a joint venture with Heineken in South Africa and Namibia Breweries Namibia three years ahead of schedule. The world’s largest distiller is not moving to own its operation in these two Southern African countries, increasing its control in a market it views to be significant to its future growth plans.
Staff, 1:14 am
Only whisky produced in Scotland can legally be labelled and sold as Scotch in Botswana, the first African country to grant the status of “geographical indicator” to a drinks producer. While beer is quite popular in Africa, a spirits culture does not currently exist. Botswana’s move is groundbreaking, said the CEO of the Scotch Whisky Association.
Julia Austin, 8:57 am AFKI Original
In Tanzania, Diageo plans to offer training and financial and physical infrastructure to local sorghum farmers. It also hopes to promote sustainable post-harvest practices throughout Tanzania. SABMiller and Diageo are growing their own ingredients locally — or plan to — reducing imports. Beyond Beer: what SABMiller and Diageo are doing in African agriculture.
Kevin Mwanza, 8:58 am
Businesses operating across Africa are looking for opportunities in other smaller countries on the continent as economies in the regions favorite investment destinations Nigeria and South Africa struggle to maintain a positive growth in the face of crippling challenges. Multinational companies operating in the two largest economies, such as Shoprite, Distell, Diageo and MTN Group, are juggling cost-cutting and aggressive marketing pushes there,
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