AB InBev Expects Total Investment Of Up To $400m In Nigerian Brewery
Beer maker Anheuser-Busch InBev (AB InBev) expects the total investment in its new brewery in Sagamu, Nigeria, to be up to $400 million, CEO Carlos Brito has said.
The $250 million brewery has already started operations, and capacity will be expanded in phases, Brito told reporters at a media briefing in Johannesburg, without giving a timeline for the next phase.
"Challenging The Status Quo"
He stated, "Nigeria [is] becoming a more and more important market as we grow in that market. I mean we're growing double digits, we didn't grow in the past as fast because we were lacking capacity, and now that we have capacity, strong brands and [a] great group of people, we're challenging the status quo there."