Report

DLTA,EABL,GUINNESS NL,IntBrew,NB NL | Fermenting value

The beer industry across Africa has been under strain over the past two years, as political and economic headwinds continued to hamper consumer spending. Brewers across the continent experienced margin contraction following a period of consumer downtrading. Following an economic turnaround, we expect consumption across the continent to grow at a CAGR of 4.5% over the next ten years, with East Africa our favoured region.
Underlyings
Delta Oil & Gas Inc.

East African Breweries Ltd

Guinness Nigeria PLC

International Breweries PLC

Nigerian Breweries

Provider
Avior Capital Markets
Avior Capital Markets

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Analysts
Ross Hindle

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