Tanzania Breweries Public Limited Company (TBL PLC), the leading beverage manufacturer in Tanzania, is pleased to announce its 51st Annual General Meeting (AGM) at the prestigious Julius Nyerere International Convention Centre. This event will showcase TBL's financial performance, strategy, and market position.

The AGM  is anticipated to be attended by a variety of stakeholders. The focus of the meeting will be on the growth and development of TBL and the entire group, as well as the challenges encountered over the past year. TBL will also demonstrate how their innovative approaches have contributed to production growth.

A crucial item on the agenda for the AGM will be the approval of the dividend payment of TZS 537 per share, which is equivalent to TZS 158,445 million for the year ended December 31, 2023. This reflects an 85% increase over the previous year, demonstrating TBL PLC's dedication to providing steady returns to its valued shareholders.

TBL Board Chairman, Leonard Mususa, stated, "We are proud to announce that despite the challenging operating conditions of 2023, including global geopolitical tensions and local excise duty hikes, Tanzania Breweries Public Limited Company (TBL PLC) demonstrated resilient growth and delivered significant value to our shareholders."

Our strong execution of strategic initiatives and the market's confidence in our diverse portfolio of brands led to a significant increase in revenue. As a result, we were able to approve and distribute a dividend of TZS 537 per share, which marks an impressive 85% increase over the previous year.

"This achievement highlights our dedication to generating long-term value for our shareholders and solidifies our position as one of the country's foremost contributors to economic growth. Additionally, during the AGM, the appointment of PricewaterhouseCoopers as the external auditors for the upcoming financial year ending December 31, 2024, was approved, emphasizing TBL PLC's continuous commitment to sound economic governance and transparency."

Key Performance Indicators:
● Revenue and Profit Growth: The company delivered another year of consistent profitable growth, with revenue increasing by 12% and operating profit by 4%. 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 Group continues to execute its proven commercial strategy and increase sales and marketing investments behind its portfolio of beer and beyond beer brands to deliver consistent growth and long-term value creation.


● Local Sourcing and Employment: TBL procures over 74% of its raw materials from within the country, directly and indirectly supporting the creation of over a million jobs throughout its supply chain. These accomplishments have reinforced TBL's status as Tanzania's top employer and manufacturer.


● Tax Contributions: TBL paid TZS 586 billion in taxes to the government in 2023, compared to TZS 528 billion the year before, solidifying its position as one of the nation's biggest taxpayers.