Dutch brewer Heineken, the owner of Savanna ciders, JC Le Roux sparkling wines and Klipdrift brandy in SA, has written down value of its local business by R10bn as a result of inflation and a tough competitive environment, casting doubt on future earnings and the group’s cost of capital.

On Wednesday, the world’s second-largest brewing company reported its 2023 annual results to end-December that included a 4.7% drop in sales volumes of beer and other alcoholic drinks globally. Nigeria and Vietnam were to blame for 60% of the decline in consumption as economic and political conditions hurt sales in those markets, Reuters reported...

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