Diageo plc plans to increase its share of Ethiopia’s beer market from 15% to 50% as it finalizes its takeover of Meta Ambo Brewery, Ethiopia. The international liquor manufacturer would like to develop the business and overcome the competition in Ethiopia said Ekwunife Okoli, Head of African regional markets for Diageo. 
Diageo will invest in enhancing capacity to increase supply according to Nick Blazquez, President for Diageo Africa. The producer expects to introduce other of its products to Ethiopia he noted.
The market for beer in Ethiopia could show a growth of more than 10% every year to 2015 following general economic growth in the country said Diageo in a statement.The significant popularity enjoyed by Meta previously and the growing middle class in Ethiopia could see Diageo doubling its sales in three years according to Francis Agbonlahor managing Director of Diageo, Ethiopia who declined to offer specific figures.
It is to be remembered that Diageo bought Meta Abo, a state-owned brewery for 225 million dollars.
Late in August the Ethiopian government had floated an auction for Meta Abo Brewery weeks after Bedele and Harar breweries were sold to Heineken. British, Dutch and South African breweries had also placed bids for the Meta Abo Brewery.
The board of PPESA, chaired by Aster Mamo, government whip accepted the offer made by Diageo as the highest bid at the public auction.
Diageo is the world's largest producer of spirits and a major producer of beer and wine. Its brands include Smirnoff (vodka), Johnnie Walker (scotch whisky), José Cuervo (tequila), Baileys (liqueur) and Guinness (stout).
Source: Bloomberg
