SABMiller, the huge brewing company which owns the Grolsch and Miller brands, is to invest $80m in a new brewery for its Ugandan subsidiary, Nile Breweries.
The new facility will be constructed in Mbarara, western Uganda.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Average per capita beer consumption is at around eight litres per year, compared to an average of around 60 litres in South Africa.
The Mbarara site will employ around 140 people directly and will brew the bulk of Nile Breweries portfolio of beers, including Nile Special, Club Pilsener, Eagle Extra and Eagle Lager.
The development site is on the banks of the River Rwizi which will provide the water source for the brewery.
Mark Bowman, the Managing Director pointed out the development would double the company's production capacity in Uganda and provide a guaranteed revenue stream for local farmers.
SABMiller shares have gained 20% in the last 12 months.
BS
-
Reeves urged to axe stamp duty from UK shares held in an ISAChancellor Rachel Reeves is reportedly considering axing stamp duty from UK shares held in stocks and shares ISAs. What could it mean for your portfolio?
-
Family investment companies explained: how the ultra wealthy shield their money from the taxmanWealthy families are increasingly turning to family investment companies to keep more of their money away from HMRC – but what are these arrangements and how do they work?
