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Shore Africa > Hot news > Business > Tanzania Breweries remains Tanzania’s biggest company, with $1.2 billion market cap
Tanzania Breweries
BusinessHot News

Tanzania Breweries remains Tanzania’s biggest company, with $1.2 billion market cap

This steady performance underscores the company's resilience, allowing it to hold its top position despite the ongoing economic challenges.

Omokolade Ajayi
Last updated: December 11, 2024 9:38 pm
Omokolade Ajayi Published December 11, 2024
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At a Glance


  • Tanzania Breweries, part of AB InBev, is Tanzania’s largest publicly listed company with a market cap of $1.24 billion.
  • Despite a 72% profit drop in Q2 2024, Tanzania Breweries continues strategic investments in innovation and capacity to drive future growth.
  • Under Michelle Kilpin’s leadership, Tanzania Breweries has invested $10.6 million to enhance capacity and drive sustainable growth.

Tanzania Breweries, a member of the Belgium-based AB InBev Group, has reinforced its position as Tanzania’s largest publicly listed company, boasting a $1.2 billion market capitalization despite a challenging fiscal year marked by a decline in earnings.

As of the latest report, the brewer’s market cap had increased to Tsh3.2 trillion ($1.24 billion), up from Tsh3.07 trillion ($1.18 billion) at the start of the year.

This $57.1 million rise represents a 4.8% increase in its share price, from Tsh10,400 ($4.02) on January 1 to Tsh10,900 ($4.22).

Tanzania Breweries’ share price, as displayed on Investing.com

Maintaining its status as the most valuable company on the Dar es Salaam Stock Exchange (DSE), Tanzania Breweries also ranks among East Africa’s top five most valuable companies.

While other listed firms, such as NMB Bank, have seen impressive double-digit gains of over 20% year-to-date, Tanzania Breweries has taken a more cautious approach.

This steady performance highlights the company’s resilience in maintaining its market leadership despite the ongoing economic challenges.

Creating cheers and jobs in Tanzania

Founded in 1933 as Tanganyika Breweries, Tanzania Breweries operates four breweries in Dar es Salaam, Arusha, Mwanza, and Mbeya, alongside a distillery in Dar es Salaam and a malting plant in Moshi.

Captured from Tanzania Breweries’ official site

With eight depots nationwide, the company produces, distributes, and exports malt beer, non-alcoholic beverages, and alcoholic fruit drinks, serving both domestic and regional markets. It also holds a controlling interest in Tanzania Distilleries Limited.

As Tanzania’s oldest company and a major employer, the brewer has created over one million direct and indirect jobs to date.

Its enduring commitment to innovation and community impact aligns with its mission to “create a future with more cheers,” ensuring its products and operations remain integral to Tanzanian society.

Tanzania Breweries sees 72% profit decline

Tanzania Breweries faced significant headwinds in 2024, with profit plummeting by 72% in the second quarter.

Despite a 14% revenue increase—rising from Tsh301.22 billion ($115.3 million) to Tsh342.7 billion ($131.2 million)—net income fell sharply from Tsh39.5 billion ($15.12 million) to Tsh11.25 billion ($4.3 million).

The decline was attributed to higher excise duties, increased administrative costs, and foreign exchange losses.

The company also absorbed a one-off impairment of receivables, further straining its profitability. These challenges stem from broader economic pressures, including rising input costs and the depreciation of the Tanzanian shilling against the U.S. dollar.

Tanzania Breweries names first female MD

In response to its financial challenges, Tanzania Breweries appointed Michelle Kilpin as its first female managing director.

Banner from Tanzania Breweries, unveiling Michelle Kilpin’s appointment as new Managing Director.

Kilpin, a South African business executive with over 19 years of experience at AB InBev, is tasked with steering the company toward sustainable growth.

Under Kilpin’s leadership, the company has invested Tsh27.77 billion ($10.6 million) in capital expenditures during the second quarter of 2024. These investments aim to enhance operational capacity and drive long-term revenue growth.

“We remain focused on the consistent execution of our business plan by investing behind our brands, innovation, and digital transformation,” Kilpin said. “We continue to drive revenue growth despite challenges arising from escalating input costs and the depreciation of the Tanzanian shilling.”

Michelle Kilpin, newly appointed Managing Director of Tanzania Breweries

Looking ahead, Tanzania Breweries’ strategic investments and focus on innovation under Kilpin’s leadership position it to navigate current challenges and capitalize on growth opportunities in Tanzania and East Africa.

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Feyisayo Ajayi is the Publisher and Co-founder of Shore Africa, the flagship media brand under the Travel Shore umbrella. He brings over a decade of multidisciplinary experience across media, finance, and technology. Feyisayo holds a bachelor’s degree in Geology from the University of Ibadan, Nigeria.
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