Ab Inbev’s $100m investment in Tanzania

By : Reuters

Date: 23 March 2018 4:36am WAT

InBev (AB INBEV) logo at the entrance of the offices / AFP PHOTO / BELGA / BRUNO FAHY

the Anheuser-Busch InBev (AB INBEV) logo at the entrance of the offices ahead of a press conference on the 2015 year results of brewery group Anheuser-Busch InBev, in Leuven.
Coca-Cola intends to buy the stake global beer giant Anheuser-Busch InBev holds in Coca-Cola Beverages Africa, the two companies announced on October 11, 2016. The proposed deal follows ABI’s mega-takeover of SABMiller to create the world’s biggest beer company. That buyout allowed the the Belgian-Brazilian maker of Budweiser and Stella Artois to recover the stake its British-South African rival held in Coca-Cola’s African subsidiary.
/ AFP PHOTO / BELGA / BRUNO FAHY

AB InBev, which owns a majority stake in Tanzania Breweries Limited, the country’s biggest brewer, will invest $100 million in a new beer plant in the administrative capital Dodoma, the president’s office announced.

President John Magufuli on Monday chaired a day-long meeting with major foreign and local investors and gave government ministers a seven-day ultimatum to resolve investor concerns.

“I want to assure you that my government does not hate business people – we like them and we will support them … this is the right time to do business (in Tanzania), but you must pay your taxes,” the president’s office quoted Magufuli as telling investors.