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.”

Published

2 years ago

January 30, 2025

OCHEFA

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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.

Related Topics:Diageo Featured Guinness Ghana

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Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

2 days ago

November 5, 2026

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BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

3 days ago

November 4, 2026

OCHEFA

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The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.