East Africa Breweries Limited (EABL) plans to expand its sorghum contract farming program beyond the current 40,000 smallholder farmers as part of a strategy to reduce reliance on raw material imports and lower production costs.
Group CEO Jane Karuku highlighted this initiative during an investor briefing, where she also reported a 20% rise in net profit to Ksh 8.1 billion for the half-year ending December 31, 2024—attributing the growth to lower inflation, reduced borrowing costs, and increased sales despite challenges like high input costs and illicit trade. Partnering with KALRO, EABL aims to improve access to quality sorghum seeds, and the board has proposed an interim dividend of Ksh 2.50 per share, up from Ksh 1 last year.
Read the full article at https://www.kbc.co.ke/eabl-profit-after-tax-up-20c-to-ksh-8-1b/