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SAB Miller speeds up move into Africa’s low-cost beer market
SAB MILLER yesterday said it has expanded its Chibuku beer brand, into ten countries across Africa as it increases its hold on the low-cost market traditionally served by “informal” home brew drinkers.
The beer giant has invested around $16m into expanding the production of the cheap low-alcohol beer over the past 18 months, in a bid to convert drinkers of home brew and illicit moonshine to the commercial beer market.
SAB and rivals such as Diageo and Heineken have been rushing to grab a greater slice of Africa’s fast-growing drinks market to offset stagnant growth in Europe.
At its quarterly investor meeting yesterday SAB, which has 172 breweries in Africa, said it plans to continue investing around $300m to $500m per year in the region.