(Reuters) – SABMiller (SAB.L) expects beer volume sales in sub-Saharan Africa, excluding South Africa, to rise by around 7-9 percent over the next three years, the company said on Tuesday.
“On average the African continent (in terms of GDP) will grow 5-6 percent per annum we think … we would expect to capture maybe 2-3 percent (beer volume sales) above that,” SABMiller Africa’s Finance Director Jonathan Kirby told the Reuters Africa Investment Summit in the Nigerian capital Abuja.
Kirby said the world’s second-largest brewer plans to invest $400 million to $500 million a year outside South Africa and open one to two new breweries in Africa in each of the next three years, with countries such as Ghana, Nigeria, Mozambique and Zambia the likely targets for expansion.
(Reporting by Joe Brock; Editing by Tim Cocks and Jason Neely)