Guinness Nigeria Plc has again reiterated that it has no plans to close its operation in Nigeria despite the economic challenges.
Adebayo Alli, Managing Director of Guinness Nigeria Plc, stated this in response to rumours of plans to close shop following Diageo’s decision to sell its majority stake to Singapore-based conglomerate Tolaram.
The rumours were also strengthened following reports of heavy forex losses.
Bloomberg, in a recent report, had said Guinness Nigeria’s management complained that it was struggling to obtain dollars to pay back foreign currency loans.
Despite the challenges, Alli noted that Guinness is improving and hailed the firmâs trade partners for their collaboration toward its objectives, which have sustained its growth.
Speaking at a two-day event to mark Guinness Nigeria’s Trading Year 2024, which featured a conference/business meeting in Lagos, he applauded the partners for their doggedness despite the challenging economic climate, saying Guinness has continued to experience exponential growth.
The Nation reports that the MD also unveiled Guinness Nigeriaâs new mission: âGN Transformed: Winning Differently,â allaying fears that it may leave Nigeria.
Alli said:
TimesNow.com.ng previously reported that the Tolaram group took over Guinness Nigeria in a similar development.
The new buyer will continue producing Guinness major spirits brands and locally-made Diageo ready-to-drink.
The transaction is expected to be completed in Fiscal 2025, subject to obtaining all necessary regulatory clearances in Nigeria.
Source: TimesNow.com.ng
