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Despite a strong 16% growth in net sales in the first six months of EABL’s FY2024 (July -December 2023) compared to the same period in the prior year, East African Breweries PLC (EABL), the Diageo-owned alcoholic drinks giant, has reported a 22% decline in half-year after-tax profit. This, it attributed to macro-economic-driven cost inflation and rising finance costs. In the just released results, the company reported that its net sales went up by 16%, to Kshs 66.5 billion for the half year ended December 31, 2023, from KShs57.3 billion in a similar period in F23. “EABL’s half-year profit after tax…
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In one of his most popular plays, Julius Caesar, Caesar (the Roman King), banishes one Publius Cimber from the empire for a crime that he (Cimber) had committed and though many of the king’s cohorts, including Brutus, who was hitherto Caeser’s right-hand man had pleaded with the king to pardon Cimber, the king remained steadfast, proclaiming that he was as ‘constant as the Northern Star’ and that Cimber’s sympathisers would rather ‘lift up Olympus’ (a dormant, holy mountain in Greece) than assume that he would rescind his decision. Many times, people find making difficult decisions an arduous task. Decision-making, especially…
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The recent Africa Climate Summit 2023 (ACS), hosted by the Government of Kenya was a crucial caucus where policymakers, practitioners, business leaders, and civil society representatives gathered to address the pressing challenges of climate change. As the world confronts the climate crisis, ACS was an opportunity to emphasize the vital role of leadership in fostering sustainability. The African Leaders Nairobi Declaration on Climate Change highlighted the African perspective, acknowledging the profound challenges climate change poses and expressing unwavering commitment to address this existential threat. Our continent is home to a rapidly growing population that is particularly vulnerable to the adverse…
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Mark Ocitti Ongom, has been appointed, the Managing Director of Kenya Breweries Limited (KBL) effective 1st March 2023. KBL is the largest of East African Breweries Limited (EABL) operations, accounting for 64% of the EABL business followed by Uganda which accounts for 20% and Tanzania, 16%. Mark is replacing John Musunga, who left KBL in October 2022 to join Guinness Nigeria, a Diageo subsidiary West Africa. John Musunga replaced Baker Magunda, another Ugandan, who retired from the group. Mark has been the Managing Director of Serengeti Breweries Ltd in Tanzania, where he will be replaced by one Dr. Obinna Anyalebechi,…
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“An experienced seasoned banker”; “even-tempered gentleman”; “skilled, trusted and with strong integrity”; “humble giant with enormous grit” and the “right man for the job” are some of the words that various leaders, that CEO East Africa Magazine used to describe Anthony. The glowing tribute complements, that of Mark Ocitti, the bank’s chairman, who also expressed confidence in Anthony’s institutional knowledge and experience. “We are confident that Anthony will build on his institutional knowledge and work together with his immediate predecessor and Equity Uganda staff to push Equity Uganda to the next level of growth,” Mr Ocitti said, in the statement…
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