EABL sets up Sh532m fund to aid bars’ Covid recovery

Wakanda News Details

EABL sets up Sh532m fund to aid bars’ Covid recovery

EABL sets up Sh532m fund to aid bars’ Covid recovery

Thursday, June 25, 2020 0:01

By PATRICK ALUSHULA

EABL chief executive Andrew Cowan.

FILE PHOTO | NMG

East Africa Breweries Limited (EABL) #ticker:EABL has announced a Sh532 million ($5 million) recovery fund to help pubs and bars resume trade post-lockdown.

The two-year programme dubbed “Raising the Bar” is part of the Sh10.6 billion ($100 million) kitty that will be rolled out from June 1 in different markets through EABL’s parent firm, Diageo.

The regional brewer was hit by measures imposed to limit spread of coronavirus including closure of bars and nightclubs, prompting the firm to issue a profit warning for the year ending June.

EABL chief executive Andrew Cowan said the programme will help accelerate recovery of hospitality sector and curb job losses.

Source: Business Daily

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