Belgium-headquartered brewer Anheuser-Busch (AB InBev) expects the total investment in its new brewery at Sagamu in Nigeria to be up to USD 400 Mn. Chief Executive Carlos Brito revealed this while speaking to the press in Johannesburg on Wednesday.
The USD 250 Mn brewery already kick-started its operations and its capacity will be expanded gradually in phases.
The multinational drink and brewing holdings company has invested a bulk of money in South Africa and Nigeria. The chief executive disclosed adding that it is inclusive of the new brewery which is in Lagos, the commercial capital of Nigeria.
“Nigeria is becoming a more and more important market as we grow in that market,” he said.
“I mean we’re growing double digits, we didn’t grow in the past as fast because we were lacking capacity and now that we have capacity, strong brands and great group of people we’re challenging the status quo there.”
AB InBev cited demand as a major factor in the decision to buy Johannesburg-based SAB, a combination that brought together brands such as Budweiser and Stella Artois with SAB’s best sellers such as Castle lager.
After the blockbuster acquisition of SABMiller in 2016, it is evident that AB InBev is focused on taking over the African market since the acquisition gave them a maiden point to the continent.
SABMiller’s African presence will have significant benefits in the growth of AB InBev in the region.
World’s top brewing firms; AB InBev and Heineken NV are investing in the continent to take advantage of the rising household incomes and beer consumption across a population of about 1 billion people.
Featured Image Courtesy: The Hour