6 Of 25 Most Admired African Brands Are Alcoholic Beverage Companies
6 out of 25 most admired African Brands are alcoholic beverage companies according to a study by Brand Africa 100.
These admired alcohol brands are Kenya’s Tusker, Ghana’s Kasapreko, South Africa’s Amarula, South Africa’s Castle Lager, Nigeria’s Star Beer and Zambia’s Chibuku. They occupied positions, 9, 11, 12, 16, 19 and 20 respectively in the African rank of most admired brands.
This somehow confirms Africa’s growing appetite for alcohol. In 2011 alone, Nigeria consumed more than USD 40 Mn worth of champagne to become the second largest consumer of the product in the world ahead of established markets like Brazil, China, USA and Australia. Nigeria is one of the top consumers of alcohol in the continent as it recorded 15.2 million hectolitres of alcohol in 2014.
Kenya has also recorded a significant growth in whisky sales driven by demand from the growing, well-travelled middle class with high disposable incomes. In 2015, Kenyans guzzled USD 5.6 Mn worth of Scotch whisky according to a report by a Scotland-based association which monitors the industry shows.
South Africa is indisputably the largest alcohol market on the continent, with an expected total volume of 30.9 million hectolitres in 2014, or 30% of the entire African market.
Today, bars and night clubs have increasingly become the top recreation destination for single and married adults, business people and tourists alike.
Increased popularity for sports like football has heightened the growth of these bars as people flock to catch up with their favourite matches. On the side most of the like to indulge in drinking these alcoholic drinks.
The world’s top brewing firms like AB InBev and Heineken NV are investing in Africa to take advantage of the growing number of the middle class. Considering 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.
The Belgium-headquartered brewer has set up a new brewery in Nigeria and once completed, the total investment in the new brewery will be worth USD 400 Mn.
Despite being faced with a myriad of challenges like counterfeiting and smuggling, the African alcohol market is burgeoning and on track to grow at a fast rate.
Unfortunately, many poor Africans have turned to alcohol hoping to drown their sorrows, only to get addicted and become alcohol dependent, which adds to their financial and emotional burdens. Most of them consume home-brewed drinks which have serious health risks compared to branded alcoholic drinks.
Featured Image Courtesy: Times LIVE
