Anheuser-Busch (A-B) InBev has set aside $400 million for the expansion of its brewery in Nigeria.
The world’s largest brewer previously pumped $250 million into the brewery, located at Sagamu, Nigeria, Reuters reported.
Its CEO, Carlos Brito said Nigeria is becoming an important market for A-B, and its increased investment into the Nigerian brewery will grow capacity over phases.
“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,” Brito said.
In its 2018 annual report, A-B said the growing interest in Nigeria stemmed from the stabilisation and economic growth of the country. In addition, company officials said their products appeal to an “emerging middle class of consumers who demand quality and great experiences.”
In 2016, A-B InBev closed on its $107 billion acquisition of SABMiller, citing that the demand in Africa was one of the major deciding factors.
The brewery has its North American headquarters in St. Louis.
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