Proctor East Africa targets bigger breakfast stake with Sh2 billion factory

Proctor East Africa targets Kenyan cereals market with $20m factory

Food processing firm Proctor & Allan East Africa Photo:Courtesy Food processing firm Proctor & Allan East Africa is angling for a bigger pie of the ready-to-eat cereals market with the completion of a Sh2 billion factory. The plant, which is based in Limuru town, produces breakfast cereals, oats and pre-cooked fortified flour as the company […]

Kenya’s EABL to convert Tanzania unit loan into equity

Kenya’s East African Breweries Ltd (EABL) said on Friday it would convert a loan to its Tanzanian business into equity, after reaching a settlement with the competition authority that had been investigating the transaction. Tanzania’s Fair Competition Commission (FCC) threatened to revoke EABL’s 51 percent stake in Serengeti Breweries in 2015, accusing the Kenyan firm […]

Britain probes BAT for bribing officials

Britain probes BAT for bribing officials

British American Tobacco is being investigated for bribing Kenyan officials, including two candidates in Tuesday’s elections. The company said UK authorities were investigating reports that it stifled anti-smoking laws and illegally acquired its rivals’ trade secrets. A whistleblower alleged that Senator Moses Wetangula and gubernatorial candidate Martha Karua were some of the beneficiaries, claiming that […]

Tanzania fines EABL over Serengeti acquisition

EABL Settles Serengeti Merger Row through settlement with Tanzania regulators

Regional brewer East African Breweries Ltd (EABL) said that it will convert a loan to its Tanzanian business into equity, after reaching a settlement with the Competition Authority that had been investigating the transaction. “Early last month, we managed to close that matter, which will now allow us to complete this capital restructuring, convert our […]

NSSF abandons interest on $6.5m Uganda Clays loan to for equity instead 

The National Social Security Fund (NSSF) board has stopped collecting interest on a loan to Uganda Clays Limited (UCL), where the pension fund is the majority shareholder, as it seeks to convert its debt to equity and sell off part of its new stake to new investors. The loan, worth sh16.7b in 2014, is now […]

EABL hits out at the Kenya govt for increase in ‘sin’ taxes

East African Breweries has hit out at the government over increasingly unpredictable policy and regulatory environment. The giant brewer says this has undermined long-term investment decisions. “A predictable policy and regulation environment will help firms plan five, ten years out,” EABL chairman Charles Muchene said yesterday in Nairobi. “You have to keep taking into account […]

High taxes cut beer demand in Kenya , says Tusker brewer EABL

East African Breweries Limited (EABL) leading brands Tusker and Guinness are projected to register sluggish growth in the medium term due to higher taxation, the brewer’s parent company Diageo has said. John O’Keeffe, Diageo Africa’s president, says a 43 per cent increase in excise duty on beer beginning December 2015 has adversely impacted performance of […]