Wrt AB InBev’s Africa operations, here’s something you might find interesting. There is a listed company in Botswana called Sechaba Brewery Holdings (SBH).
SBH, founded in 1970, has 49.9% ownership stakes each in Kgalagadi Breweries and Coca-Cola Beverages Botswana (CCBB). AB InBev owns the balance 50.1% in Kgalagadi Breweries and Coca-Cola Beverages Africa owns the balance 50.1% in CCBB.
Kgalagadi’s main brands (in descending order of contribution to revenue) are Carling Black Label, Castle Lite and St Louis Lager. The premium brand, Corona, is growing at a rapid pace, with YoY growth of >200%. They also have products in flavoured alcoholic beverages- their brand Flying Fish is growing at triple digits YoY.
CCBB is into non-alcoholic drinks: soft drinks like Coca-Cola, along with water, juice, energy drinks (e.g., Monster) etc. Coca-Cola Beverages Africa’s CEO Mr. Jacques Vermeulen has said- “We see a compelling long-term growth opportunity for non-alcoholic ready-to-drink beverages in Botswana.”