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East African Breweries Limited (EABL), one of the crown jewels in Kenya’s corporate sector, is now at the centre of market speculation following a broader strategic pivot by its parent company, Diageo PLC, which has been steadily retreating from several African markets. According to a report by Business Daily Africa, the British beverages giant on Tuesday unveiled a sweeping $500 million (KSh64.65 billion) cost-cutting and asset disposal programme as part of what it calls an “asset-light model,” a strategy designed to reduce exposure to volatility in emerging markets and boost returns. The Nairobi Securities Exchange-listed EABL, in which Diageo holds…
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Sir Ivan Menezes the ‘Captain Morgan’ of the Diageo Plc ship has passed on, after a short illness. “This is an incredibly sad day. Ivan was undoubtedly one of the finest leaders of his generation,” said Javier Ferrán, Chairman, Diageo plc in a statement. “Ivan was there at the creation of Diageo and over 25 years, shaped Diageo to become one of the best performing, most trusted and respected consumer companies. I saw first-hand his steadfast commitment to our people and to creating a culture that enabled everyone to thrive. He invested his time and energy in people at every…
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This week is special for us at East African Breweries Plc (EABL). On December 14, 1922, the first batch of beer made from our then-makeshift brewery at Ruaraka was delivered to The Stanley. The making of that brew 100 years ago was a painstaking venture. Charles Hurst, who founded the company with his brother George, had studied the manual that came with the equipment he had brought from London by ship. That beer was made with water from a well, with the most important ingredient being malt extracts. Through ingenuity, innovation and agility, the company that would later become EABL…
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After 23 years with Diageo Plc, 16 of them as Chief Executive in various Diageo country operations, Baker Magunda, is retiring from the Group. With over 200 brands and sales in more than 180 countries, Diageo Plc is a global leader in beverage alcohol with an outstanding collection of brands across spirits and beer that include among others Johnnie Walker, Smirnoff, Guinness and Ciroc. Diageo is the parent company of Guinness Nigeria Plc where Magunda has been Managing Director/CEO since July 2018. In East Africa, Diageo owns East African Breweries Limited, which owns Uganda Breweries Limited, one of Uganda’s leaders in beverage alcohol….
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