EABL to borrow Sh15b from banks to build Kisumu plant

EABL group managing director Andrew Cowan and firms chairman Charles Muchene during the release of financial resuts on Friday. (Photo: Wilberforce Okwiri/Standard)

East African Breweries Limited (EABL) will borrow the Sh15 billion it needs to build its new brewery in Kisumu.

The brewer said on Friday it will not be turning to its shareholders to fund the project through equity after it received an approval from the board to borrow. But it expects to reduce the amount of money it will borrow by supplementing it with internally generated funds.