For most of the time since it listed in January 2016 at R2,000, the AB InBev share price has gone in one direction: downward.  

In January, the share price reached a three-year low of R930 after the biggest beer group in the world announced it would be cutting back on dividends to shore up its cash resources. While the recovery, to a current R1,316.93 provided much-needed relief it’s difficult to see how investor sentiment can be sustainably reversed while there’s $100bn of debt hanging over its head. Management seems determined to address the problem.

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