Beer intake up as TBL posts strong growth in 2024
What you need to know:
- The company attributed much of its growth to continued investment in marketing, innovation, and digital transformation.
Dar es Salaam. Tanzania Breweries Limited (TBL) has reported a strong performance for the financial year ending December 31, 2024, driven by rising beer consumption, strategic investments, and improved economic conditions.
The company’s chairman, Mr Leonard Mususa, said at the company’s Annual General Meeting (AGM) yesterday that revenues rose by 15 percent, while operating profit grew by 23 percent, supported by core beer brands, spirits and disciplined cost management.
“The alcoholic beverage industry in Tanzania showed significant improvement in 2024. Increased economic activity and government spending boosted disposable income, leading to a balanced rise in consumption across all product categories,” said Mr Mususa.
The company attributed much of its growth to continued investment in marketing, innovation, and digital transformation.
With over two-thirds of the national beer market, TBL's portfolio includes iconic brands such as Safari Lager and Konyagi, both of which received international recognition last year.
The company also expanded its digital platforms like BEES and KUJA connecting over 120 distributors and reaching 22,000 Points of Consumption nationwide, significantly improving market coverage and distribution efficiency.
The company reported that capital investment in 2024 totalled Sh88.38 billion. Mr Mususa said this includes the commissioning of a new malting facility in Kilimanjaro with an annual capacity of 8,000 metric tonnes.
The plant supports local barley production, benefiting smallholder farmers in West Kilimanjaro, Monduli, Manyara, and Dodoma.
TBL also reported progress in sustainability, with 92 percent of its packaging either returnable or made from recycled content, and water-use efficiency maintained at 2.7 hl per hl.
Looking ahead, Mr Mususa reaffirmed the company’s focus on consumer-centric growth, continued investment in its brands and facilities, and expanding its smart drinking and retailer development initiatives.
“We remain confident in our team’s ability to deliver on our commercial strategy and lead the growth of Tanzania’s formal alcoholic beverage sector,” he said.
