Beer maker East Africa Breweries (EABL) #ticker:EABL is set to establish a Sh15 billion state of the art plant in Kisumu, a move the State reckons will help create at least 110,000 direct and indirect jobs.
President Uhuru Kenyatta made the announcement today at State House during a meeting with Diageo Global chief executive Ivan Menezes.
“I am pleased today to announce that Kisumu is next in line to receive record-breaking new investment that will change the lives of our farmers and our young people. This investment – valued at Sh15 billion - will result in a modern, state-of-the-art brewery will see at least 110,000 Kenyans derive a source of livelihood,” said Mr Kenyatta.
The brewery is expected to lift the demand for sorghum, which will in turn support small-scale farmers in the region.
“We are delighted to be here today to take on this major project that will positively transform livelihoods,” said Mr Menezes.
The NSE-listed brewer is is 50.02 per cent owned by British multinational Diageo.
It is projected that the plant will push sorghum demand from the current 20,000 metric tonnes to around 40,000 in the next five years.