A self-described ‘spirited Kenyan’ has done what corporate lawyers, a construction firm, and a decade-old distributor could not: she has frozen the most contested corporate transaction in East African history just weeks before Diageo expected to bank $2.3 billion and walk off the continent for good.
As Diageo exits at a 97 percent premium worth Sh303.5 billion, thousands of ordinary Kenyans who trusted the Nairobi Securities Exchange watch their paper wealth evaporate while the Capital Markets Authority looks the other way.
British drinks giant may offload its Sh100 billion stake in East African Breweries as part of sweeping $500 million cost-cutting drive.
May 19 (Reuters) – Diageo unveiled a plan on Monday to cut $500 million in costs and make substantial asset disposals by 2028, as the maker of Johnnie Walker whisky and Guinness beer looks to turn around its performance and reduce its debts. Cost cuts would come from changes to Diageo’s trade investment and advertising […]
African Originals, a Nairobi-based startup behind ‘KO’ brand popular for a range of ciders, iced teas and gins, is battling regulatory hurdles that now threatens its future and now blaming their rivals and a market giant East African Breweries Limited (EABL) for their predicaments. In the current edition of Semafor Africa newsletter, pan African online […]
Kenya high on gin pushed up British multinational Diageo sales to 5 per cent of total income last year as the country binged on the spirit while cooped up to weather Covid-19 pandemic. Diageo said gin sales grew 14 per cent to make up 5 per cent of its total sales globally driven by sales […]
Kenya insights have on several occasions called out the perpetrators (Diageo, EABL, KBL) promoting ‘Shikisha form na Senator ushinde’ —who have continued to dup liquor enthusiasts from low-income settlement into their lottery scheme; Creating an illusionary shortcut to wealth to these group, Promoting excessive drinking as the promotion encourages participants to buy more mugs and drink more […]
When spirits maker Diageo faced slowing growth in developed economies, it started expanding in emerging markets. By 2004, however, many of these mature markets were becoming saturated. Emerging markets, on the other hand, were growing quickly, and the company saw an opportunity in them. Africa provided an attractive target. Its population had been growing at […]
In June this year, Kenya Breweries Limited (KBL) re-introduced their third national consumer rewards promotions with an aim in ‘fighting illicit brews’ – promotion geared at rewarding loyal Senator beer consumers. According to the initiators, the campaign aim to provide a safe, ultra-low-cost beer to compete with illegal supplies which could play a crucial role […]
