Beverage and consumer trends in our operating context

As one of the oldest and most widely consumed beverages, beer remains in the thick of a challenging era. Over the last several years, the global beer industry has experienced a roughly stagnant if not decelerated market with various factors impacting consumption. Having to face structural challenges, tighter regulation, higher competition, and a change in consumer habits, brewers are focusing on innovative strategies and distribution channel developments to maintain their returns and margins.

– J P Morgan Chase & Co.1

1 JPMorgan Chase & Co. – The beer industry: Pouring both pint and profits away from the sector (14 August 2018)

Africa remains a growing market for beer. This is the result of demographic drivers rather than consumer behaviour as we see similar global trends affecting all the markets where our brands are available.