Tanzania Breweries Limited shareholders approve Sh537 per share dividends

Tanzania Breweries Limited shareholders approve Sh537 per share dividends

Dar es Salaam. Shareholders of Tanzania Breweries PLC yesterday approved the payment of Sh537 per share in dividend payout that is worth Sh158.4 billion for the year ending December 31, 2023.

“This illustrates TBL PLC’s commitment to delivering consistent returns to its esteemed shareholders,” said TBL board chairman Mr Leonard Mususa in a statement released after its 51st Annual General Meeting (AGM) at the Julius Nyerere International Convention Centre on July 25.

“We are proud to announce that despite the challenging operating conditions in 2023, including global geopolitical tensions and local excise duty hikes, TBL PLC demonstrated resilient growth and delivered significant value to our shareholders,” he added.

TBL has reported resilient growth and profitability to the tune of Sh224 billion, which is an increase of four percent over the previous year.

In fact, TBL Group’s revenue increased by 12 percent to Sh1.27 trillion in the year under review.

TBL also paid Sh586 billion in taxes to the government in 2023, compared to Sh528 billion the year before, according to the statement.

The AGM involved the approval of the appointment of PricewaterhouseCoopers as the external auditors for the upcoming financial year ending December 31, 2024.

Revenue growth was driven by both beer and spirits, with significant contributions from the core and core-plus segments of the beer business and spirits, the firm stated.

Looking forward to 2024, the firm believes that the formal alcoholic beverage industry remains relevant in Tanzania and there could be more opportunities ahead to expand markets of beer and other beverages.

“We will continue putting our consumers and customers at the centre of what we do and continue executing our tried-and-tested commercial plan to accelerate the pace of business growth,” said Mr Mususa.

TBL procures over 74 percent of its raw materials from within the country, directly and indirectly supporting the creation of over a million jobs throughout its supply chain.

Original Media Source

Share this news

Facebook
Twitter
LinkedIn
WhatsApp

This Year's Most Read News Stories

Tanzania Declares End of Marburg Virus Disease Outbreak
Tanzania Foreign Investment News
Chief Editor

Tanzania Declares End of Marburg Virus Disease Outbreak

Tanzania Declares End of Marburg Virus Disease Outbreak

Tanzania today declared the end of Marburg virus disease outbreak after recording no new cases over 42 days since the death of the last confirmed case on 28 January 2025.

The outbreak, in which two confirmed and eight probable cases were recorded (all deceased), was the second the country has experienced. Both this outbreak, which was declared on 20 January 2025, and the one in 2023 occurred in the north-eastern Kagera region.

In response to the latest outbreak, Tanzania’s health authorities set up coordination and response systems, with support from World Health Organization (WHO) and partners, at the national and regional levels and reinforced control measures to swiftly detect cases, enhance clinical care, infection prevention as well as strengthen collaboration with communities to raise awareness and help curb further spread of the virus.

Growing expertise in public health emergency response in the African region has been crucial in mounting effective outbreak control measures. Drawing on experience from the response to the 2023 Marburg virus disease outbreak, WHO worked closely with Tanzanian health authorities to rapidly scale up key measures such as disease surveillance and trained more than 1000 frontline health workers in contact tracing, clinical care and public health risk communication. The Organization also delivered over five tonnes of essential medical supplies and equipment.

“The dedication of frontline health workers and the efforts of the national authorities and our partners have paid off,” said Dr Charles Sagoe-Moses, WHO Representative in Tanzania. “While the outbreak has been declared over, we remain vigilant to respond swiftly if any cases are detected and are supporting ongoing efforts to provide psychosocial care to families affected by the outbreak.”

Building on the momentum during the acute phase of the outbreak response, measures have been put in place to reinforce the capacity of local health facilities to respond to potential future outbreaks. WHO and partners are procuring additional laboratory supplies and other equipment for disease detection and surveillance and other critical services.

Marburg virus disease is highly virulent and causes haemorrhagic fever. It belongs to the same family as the virus that causes Ebola virus disease. Illness caused by Marburg virus begins abruptly. Patients present with high fever, severe headache and severe malaise. They may develop severe haemorrhagic symptoms within seven days.

In the African region, previous outbreaks and sporadic cases have been reported in Angola, the Democratic Republic of the Congo, Ghana, Kenya, Equatorial Guinea, Rwanda, South Africa and Uganda.

Source: allafrica.com

Continue Reading