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Beverages – African & Middle East News
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International Breweries posts US$73.57M loss in 2024 despite record revenue growth
The AB InBev subsidiary records its seventh consecutive annual loss, citing foreign exchange challenges despite an 87.63% revenue surge.
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Kerry expands in East Africa with first taste manufacturing facility in Rwanda
The new facility in Kigali aims to support local food and beverage manufacturers with high-quality ingredients and expertise.
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Ngouchet Group secures US$2.14M IFC loan to boost dairy, juice production in Cameroon
The IFC’s investment will help First African Company expand production, enhance food security, and strengthen Cameroon’s local agribusiness sector.
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Diageo divests majority stake in Seychelles Breweries for US$80M
Diageo continues with its asset-light strategy as it exits Seychelles Breweries with an US$80 million stake sale to Phoenix Beverages.
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African Originals seeks to raise US$2M to expand cider production amid rising demand
The funding will enable African Originals to scale production and strengthen its market position as demand for ciders surges among Kenya’s younger consumers.