Business
Diageo sells majority stake in Guinness Ghana to Castel Group for $81 Million
Group CEO Gregory Clerc expressed enthusiasm for the acquisition, stating: “This purchase underscores Castel’s entrepreneurial spirit and represents a significant step forward in our growth ambitions across the African continent.”
Diageo has announced the sale of its majority stake in Guinness Ghana Breweries to the Castel Group for $81 million.
The transaction will see the UK-based beverage giant part with its 80.4% shareholding in the Ghanaian unit while retaining ownership of its Guinness brand and other key labels produced by Guinness Ghana.
These will continue to be licensed to the brewery under the new ownership. This move aligns with Diageo’s ongoing strategy to adopt a “flexible and asset-light” beer operating model, which is designed to adapt to local market conditions and enhance operational efficiency and profitability.
“Guinness Ghana has consistently delivered strong performance, driven by an exceptional team,” said Dayalan Nayager, President and Chief Commercial Officer of Diageo Africa.
“Through this transaction, we anticipate the Guinness brand continuing to flourish and achieving sustained growth under Castel’s leadership.”
The sale follows a series of divestments by Diageo in its African beer business, including its stakes in Guinness Nigeria in 2024 and Guinness Cameroon in 2022, both of which were also acquired by Castel.
In January 2022, Diageo sold its Meta Abo Brewery in Ethiopia to the Castel Group as part of its broader portfolio reshaping in Africa.
Marketing Edge, reported that Group CEO Gregory Clerc expressed enthusiasm for the acquisition, stating: “This purchase underscores Castel’s entrepreneurial spirit and represents a significant step forward in our growth ambitions across the African continent.”
The announcement comes amid recent media speculation about Diageo’s potential divestment of its Guinness business and its 34% stake in LVMH’s beverage alcohol division, Moët Hennessy.
However, Diageo has firmly denied such rumors.
“We want to address the recent speculation regarding the Guinness brand and our stake in Moët Hennessy,” Diageo said in a statement issued on January 26.
“We can confirm that we have no intention of selling either. We look forward to providing further updates during our interim results announcement on February 4 and at our Guinness investor and analyst day on May 19-20.”
This latest sale marks a continuation of Diageo’s strategic focus on streamlining its operations while ensuring the Guinness brand remains a cornerstone of its African business portfolio.
Business
NRS Chair: New tax laws won’t be implemented until January
According to Adedeji, the Federal Inland Revenue Service, FIRS by the signing of the bills into Law is now the Nigeria Revenue Service (NRS), explaining that the new law now defines the NRS’s expanded mandates…
•President Bola Tinubu shake hands with NRS Chairman, Zach Adedeji.
The Chairman of the Nigeria Revenue Service (formerly FIRS), Zach Adedeji, has disclosed that the implementation of the newly signed four tax fiscal reform laws will commence by January 1st, 2026.
Adedeji told State House correspondents shortly after the President signed the bills into law, the previous day.
Adedeji said that the modalities will be put in place ahead of the implementation.
Adedeji further explained that the six-month period between the enactment of the new fiscal laws is designed to give ample time to those saddled with the implementation to carefully prepare and ensure that all Nigerians are adequately sensitised.
According to Adedeji, the Federal Inland Revenue Service, FIRS by the signing of the bills into Law is now the Nigeria Revenue Service (NRS), explaining that the new law now defines the NRS’s expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms.
Business
President Tinubu List Economic Expectations from New Tax Laws
On his verified X handle @officialABAT, the President had said that the new tax laws form the groundwork for the Nigeria of tomorrow, focused on unlocking opportunities for all.
President Bola Tinubu said today that the four tax reforms bills he signed into law reflect his administration’s resolve to create a modern, transparent, and efficient tax system capable of supporting national development, promoting investment, and reducing the burden of multiple taxation on citizens.
President Tinubu explained that the laws would be unifying Nigeria’s fragmented tax system, remove redundant overlaps, boost investor confidence, enhance transparency, and promote coordinated efforts across all levels.
He also described the legislation as a clear departure from previous policies, emphasising that the reforms are designed to ease the burden on working families, small businesses, and low-income earners while eliminating inefficiencies that have long plagued Nigeria’s fiscal structure.
On his verified X handle @officialABAT, the President had said that the new tax laws form the groundwork for the Nigeria of tomorrow, focused on unlocking opportunities for all.
“We are also building a framework for the Nigeria of tomorrow-leaner, fairer and laser focused on unlocking opportunities for all,” he said.
He added : ” These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet.
Designed to overhaul Nigeria’s fiscal and revenue administration framework, the laws which have been described as a major leap in the nation’s economic reform drive.
“For too long, our tax system has been a patchwork-complex, inequitable, and burdensome. It has weighed down the vulnerable and shielded inefficiency. That era ends today.”
Business
Tinubu signs four Tax Reform Bills to law today
The bills were recently passed by the National Assembly following extensive stakeholders consultations and technical reviews.
President Bola Ahmed Tinubu will today (Thursday) sign into law four tax reform bills set to overhaul Nigeria’s fiscal landscape, streamline tax administration, and boost investor confidence.
The ceremonial signing is scheduled to take place at the State House, Abuja.
In a statement , Bayo Onanuga, Special Adviser to the President on Information and Strategy, said that the four bills are : the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill
The bills were recently passed by the National Assembly following extensive stakeholders consultations and technical reviews.
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