23rd August 2017
SL Brewery Unveils Successes and the Next Phase of Investments
By the Ranger (27/07/17)
It was during the 54th Annual General Meeting of Sierra Leone Brewery in Freetown that the next phase of investments was made public.
Chairperson Mr. Boudewijn Haarsma addressed stakeholders and newsmen on Wednesday June 21 when he said 2016 was a pivotal year for the Sierra Leone Brewery Limited SLBL with the implementation of the next phase of its investment programme. (Pictured: Plants at the Brewery in Freetown).
Mr. Haarsma noted that a total of 97 billion Leones has been invested in the development of the company production, noting that the supply chain focus for 2016 was to progress with the brewery upgrade, which involved investment in new brewing and processing equipment. He said the aim of this investment is to modernise the brewery, expand capacity and improve efficiency whilst maintaining high product quality.
He added that in the last quarter of 2016, SLBL successfully completed its recapitalisation process of which the objective were to strengthen the balance sheet, position the business for growth by reducing existing debt obligation, undertake new capital investments and provide additional working capital.
“Noting that the right issue for which all existing shareholders were invited to contribute is that SLBL had raised over 290 billion Leones and is now in a better position to finance its investment programme while minimising financing costs. This marks an important milestone in securing SLBL future,” he said.
SLBL Chair noted that it has made significant investments in equipment, brands, processes and people, and also important was the refinancing of the Company which will amongst others; reduce the financing costs in 2017.
He said the company is expecting the positive impact of these improvements in 2017 and maintained that executing the transformational agenda remained a top priority, as they continue to focus on implementing people development plans.
In conclusion, Mr Haarsma added that developing of local leaders with the aim of unleashing their potential and preparing them to assume leadership roles and management position in this great Company is pivotal.