FX losses cap gains of Nigeria's beer makers

FX losses cap gains of Nigeria's beer makers

Beer makers, Guinness Nigeria and International Breweries reported negative post-tax profits as the losses from foreign exchange continue to impact gains in the sector. Analysts at Vetiva believe stepping up local sourcing will reduce FX demand and then, reduce risks to balance sheets. Oluebube Nwosu, Consumer Goods Analyst at Vetiva Capital,…

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