Ann Crotty Writer-at-large

In 30 years’ time, the African continent will be more relevant to the global beer market than North America. That is the view of Ricardo Tadeu, the Africa Zone president of Anheuser-Busch InBev (AB InBev), in dismissing any concern investors might have about the almost unprecedented 5% slump in South African beer volumes in the December quarter. “As a company, we’re very happy to be here in SA and Africa in general and we remain very confident about the mid-and long-term outlook,” said Tadeu, talking about the first 150 days at the head of AB InBev’s African business. That business is now part of AB InBev’s Europe, Middle East and Africa division, which reported a beer volume decrease of 1.1% in the 12 months to end-December 2016. The SABMiller volumes are only included for the last three months of that period, after the acquisition became effective. The recently released annual report refers to the 5% drop in South African beer volumes “as a result of macroeconomic weakness and the...

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