JOHANNESBURG (Reuters) - Anheuser-Busch InBev (AB InBev), the world’s largest beer maker, expects the total investment in its new brewery at Sagamu in Nigeria, to be up to $400 million, Chief Executive Carlos Brito said on Wednesday.
The $250 million brewery has already started operation and capacity will be expanded in phases, Brito told reporters at a media briefing in Johannesburg, without giving a timeline for the next phase.
“Nigeria (is) becoming a more and more important market as we grow in that market,” he said.
“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.”
Reporting by Nqobile Dludla; Editing by Jane Merriman and Susan Fenton