Competition in the Nigerian beverage industry may be getting stiffer as the acclaimed largest brewer in the world, Anheuser-Busch InBev, AB InBev, has indicated interest to invest in Nigeria.
The Belgium-based beverage firm which has its $250 million brewery built in Shagamu, Ogun State, may begin full operations in the middle of the year if the word of its Head of Africa Operations, Ricardo Tadeu, is anything to go by.
Reuters reported that the company was exploring the Nigerian market to satisfy the huge thirst for beer.
According to Tadeu, the company saw huge opportunities in the most populous black nation as Africa is projected to be an important growth driver for the global company in the next five to ten years.
“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. “Growth in African countries, excluding South Africa, was a “healthy growth rate in the mid-teens,†he said.
The company added that it expected to see its revenue and core profit (EBITDA) grow strong again this year, with revenue per hectolitre rising by more than inflation and costs by less.
It revealed further that it had achieved savings of $381 million from its near $100 billion purchase of rival SABMiller, which boosted its presence across Africa, including some of the world’s fastest-growing economies.
