Uganda in 80,000 tonnes deficit of edible oil - minister Kafabusa

Uganda only producing 1/3 of local edible oil demand

Data indicates that Uganda’s edible oil demand stands at 120,000 metric tonnes against a production capacity of 40,000 metric tonnes, leaving a deficit of 80,000 annually. PIC: Minister Kafabusa (left) launching Virgin Gold alongside Ngetta Tropical Holdings CEO Paul Omara (centre) and Otuke Woman MP Sylvia Akello. (Wilson Manishimwe) KAMPALA – The state minister for […]

Rwanda MPs highlight high electricity costs as hinderance to manufacturing sector

As the country’s industries continue to grow, government should move swiftly to facilitate them by solving issues related to low electricity supply and lack of raw materials needed to run them. The recommendation was made by legislators in the Lower House on Tuesday after members of the parliamentary Standing Committee on Economy and Trade presented […]

Citi analysts project EABL income growth to slow down

CitiBank analysts project EABL income growth to slow down

Citi analysts indicate the company, which saw its net profit fall by 20.6 per cent in its latest financial year report, is facing challenges ranging from an excise tax increase to high debt levels. The investment bank notes that EABL has significantly underperformed large cap peers in recent months. The analysts said the company’s share […]

BAT wins first round of tax battle with Uganda as East African Court of Justice slaps down taxes on Kenyan imported cigarettes

Cigarette maker British American Tobacco has won the first round in what promises to be a bruising tax battle against the Ugandan government. The East African Court of Justice (EACJ) has issued an interim order stopping the Uganda Revenue Authority (URA) from imposing excise duties on BAT cigarette imports from Kenya. The company in August […]

Political uncertainty hit EABL's half year sales, Diageo says

Political uncertainty hit EABL’s half year sales, Diageo says

East African Breweries Limited’s (EABL) revenues for the six months to December have remained flat as political uncertainty arising from last year’s elections slowed down consumption, the brewer’s parent company Diageo has disclosed. This means that the regional brewer’s sales for the period under review will be in the region of Sh35.2 billion, taking into […]

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 […]