Nigerians get set to drink even more beer as Anheuser-Busch InBev (AB InBev) conclude plans to launch its new $250 million brewery in Sagamu.
Spirit and wine brands are continually making in-roads into the country, but the Nigerian market is still very much in love with foamy cold beer.
To satisfy that huge thirst for beer, the world’s largest brewer’s Head of Africa Operations, Ricardo Tadeu told Reuters on Thursday that its new brewery will begin operations in the middle of this year.
“For the long term, in five to 10 years, Africa will be an important growth driver for the global company,” Tadeu told Reuters.
Tadeu held back words on the plant’s production capacity but considering Nigeria’s position as Africa’s most populous nation, AB InBev will certainly do justice to produce enough to boost the market here, and Africa in general.
“We have a clear strategy to keep a good level of growth in Africa based on developing our brands in different segments of the market,” Tadeu said.
Excluding South Africa, Tadeu revealed that other African countries maintained a“healthy growth rate in the mid-teens”. With that in mind, the Belgium-based brewer foresees its expected revenue and core profit (EBITDA) to gain massively again in 2018, with revenue per hectolitre rising by more than inflation and costs by less.
A savings of $381 million from its near $100 billion purchase of rival SABMiller, is a satisfactory garnish on the cocktail of a boosted in presence across Africa.