Guinness Nigeria Plc plans to increase exports to improve sales and generate more foreign exchange as the country second-largest brewer battles to overcome an economic slump in its home market.
The unit of London-based Diageo Plc will consider selling Guinness stout and the herbal drink Orijin in South Africa to boost the proportion of beverages it sends to international markets, Chief Executive Officer, Peter Ndegwa, said in an interview with Bloomberg.
That will help resolve the brewer shortage of foreign currency in Nigeria, which the beverage maker needs to pay for imported goods.
“With all the challenges we have had with foreign currency availability, we realise that export is a great opportunity to gain foreign exchange and stabilise”
Ndegwa said. “We have heard a lot of inquiries from South Africa. We are currently in the process of seeing how we can export some of those brands to the country.”