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
TIME Names Moniepoint CTO Felix Ike Among 50 Global Executives of the Year
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
TIME magazine has named Felix Ike, co-founder and Chief Technology Officer of Nigerian fintech Moniepoint, to its inaugural Executives of the Year: Tech and Data list.
Ike is the only executive representing an African company among the 50 leaders selected for the 2026 list.
The list, unveiled on Tuesday, September 22, recognises chief information officers, chief technology officers, chief data officers and chief product officers whose decisions are shaping how major organisations deploy technology and use data.
Moniepoint is also the only African company represented on the inaugural list.
Ike was named alongside executives from Netflix, CrowdStrike, Dell, Duolingo, AT&T, OpenAI, Anthropic, Shopify and Reddit, among others.
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
“The recognition follows Moniepoint’s inclusion in TIME’s 2025 list of the 100 Most Influential Companies, giving the Lagos-founded fintech another global distinction.
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Business
Djibouti, Ethiopia and Dangote to build $660 million petroleum pipeline
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
Ethiopia, Djibouti and Nigerian billionaire Aliko Dangote plan to build a $660 million refined petroleum pipeline that will connect Ethiopia and Djibouti, a spokesperson in Ethiopian Prime Minister Abiy Ahmed’s office said on Thursday.
The project will include a 120-km (75-mile) pipeline, as well as approximately 375,000 cubic metres of storage capacity at Damerjog in Djibouti and 800,000 cubic metres at Dewele in Ethiopia, the spokesperson told Reuters, adding it should become operational within 18 months.
Abiy said on his X account the project will be developed through a partnership between Ethiopian Investment Holdings and the Dangote Group, which separately is already building a $4 billion fertiliser pipeline and power plant, and a polypropylene packaging facility, in Ethiopia.
The project aims to reduce logistics costs and delays along the Ethiopia-Djibouti transport corridor, Abiy said.
Developers say the infrastructure will strengthen energy security and improve supply chain resilience for the two countries, he said.
Abiy is on a visit to Djibouti and made the announcement alongside its president, Ismail Omar Guelleh, and Dangote.
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
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