Diageo to invest some USD 50 million for expansion
Addis Ababa, Ethiopia – Diageo stated that it has plans to investÃ‚Â at least USD 50 million in the Meta Abo Brewery soon.
DiageoÃ¢â‚¬â„¢s Marketing Director for African Regional Markets, Ekwunife Okoli, said that the company will be investing in the expansion of the Meta Abo Brewery.
Ã¢â‚¬Å“We are going to invest in expanding our brewing capacity as well as our packaging capacity. Currently, we are constrained in regards to both. So, there will be a new packaging line as well as expanding our brewery capacityÃ¢â‚¬Â Okoli stated. He also mentioned that the construction work for the expansion will begin in two monthsÃ¢â‚¬â„¢ time in the vast compound where the brewery is currently located.
Okoli also said the company will continue to invest in the Meta Abo Brewery, and in the future, may further expand into other areas as well. Ã¢â‚¬Å“The demand for our brand has kept growing; that is why we are putting significant investment into expansion,Ã¢â‚¬Â he said.
Ekwunife Okoli, who previously held the position of Guinness Brand Director for Africa, visited DiageoÃ¢â‚¬â„¢s operation in Ethiopia and held an executive meeting. Andy Fennell, President and Chief Operating Officer for Diageo Africa, also visited Ethiopia to take part in the meeting.
The UK-based producer and distributor of beer, spirits and wine became the third European company to invest in EthiopiaÃ¢â‚¬â„¢s beer industry along with BGI Ethiopia and Heineken. It acquired Meta Abo Brewery for USD 225 million in January 2012.
A month ago, the company introduced a new brand of soft drink named Malta Guinness, and said it will introduce more brands in the future. Ã¢â‚¬Å“The feedback we have received from consumers regarding the recently-introduced brand is very positive and we will definitely be introducing more new brands in the future,Ã¢â‚¬Â said Okoli.