Uganda Breweries Limited (UBL) has announced a 12% growth in 2024, driven primarily by the success of its premium beer and spirits portfolio.
The company’s Managing Director, Andrew Kilonzo, revealed the impressive growth figures during a media engagement at the UBL Plant in Luzira on Monday.
Kilonzo attributed the growth to the strong performance of premium beers such as Guinness, Tusker Lite, and Tusker Malt Lager, as well as Bell Lager and Pilsner Lager. He noted that these brands have resonated well with consumers, leading to increased sales and revenue for the company.
In addition to its commercial success, UBL is also focusing on sustainability initiatives, with a goal of achieving carbon neutrality within the next seven years. This ambitious target involves transitioning the company’s industrial operations from diesel power to more environmentally friendly alternatives.
Kilonzo also addressed the recently dismissed Alcohol Control Bill, expressing support for the decision. He emphasized that the sector is already heavily regulated and that UBL will continue to prioritize responsible product availability and consumption.
“We will comply with changing regulations and standards, ensuring we remain on the right side of the law,” he stated.
However, Kilonzo highlighted the need to address the issue of illicit, unregulated, and informal alcohol, which poses a significant challenge to the industry. He expressed optimism that the conversation will continue, citing potential solutions from the dismissed Bill that can help tackle the problem.
UBL Commercial Director, Emmy Hashakimana, added that the illicit alcohol sector is costing Uganda billions in lost taxes.
Recent reports indicate that this sector accounts for 65% of the market share, resulting in an estimated annual loss of Shs600 billion for the government.
Hashakimana emphasized the need for urgent action to address this issue and ensure a level playing field for legitimate businesses like UBL.