TANZANIA BREWERIES LIMITED HOSTS 51ST ANNUAL GENERAL MEETING

TBL Board Chairman, Mr. Leonard Mususa addresses shareholders during the 51st Annual General Meeting (AGM) held at the Julius Nyerere International Convention Centre in Dar es Salaam yesterday. This event highlighted TBL PLC’s financial performance, strategy and market position. With him left is the Company Secretary, Esther Kuja and Board Member, Phocus J.I. Lasway (right).

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Dar es Salaam, July 25, 2024 - Tanzania Breweries Public Limited Company (TBL PLC), Tanzania's leading beverage manufacturer, is delighted to announce its 51st Annual General Meeting (AGM) at the renowned Julius Nyerere International Convention Centre. This event will highlight TBL's financial performance, strategy, and market position.

The AGM, expected to be attended by various stakeholders, will cover the growth and development of TBL and the entire group, as well as the challenges faced over the past year. TBL will also showcase how their applied innovations in driving production growth.

A crucial agenda item at the AGM will be the ratification of dividends paid of TZS 537 per share (equivalent to TZS 158,445 million) for the year ended December 31, 2023, an 85% increase over the prior year. This illustrates TBL PLC's commitment in delivering consistent returns to its esteemed shareholders.TBL Board Chairman Mr. Leonard Mususa, said, "We are proud to announce that despite the challenging operating conditions of 2023, including global geopolitical tensions and local excise duty hikes, Tanzania Breweries Public Limited Company (TBL PLC) demonstrated resilient growth and delivered significant value to our shareholders. Our steadfast execution of strategic initiatives and the market's confidence in our diverse portfolio of brands resulted in a notable increase in revenue, enabling us to approve and distribute a dividend of TZS 537 per share—an impressive 85% increase over the previous year. This accomplishment underscores our commitment to creating long-term value for our shareholders and reinforces our position as one of the nation’s leading contributors to economic growth."

Furthermore, the AGM involved the approval of the appointment of PricewaterhouseCoopers as the external auditors for the upcoming financial year ending December 31, 2024, highlighting TBL PLC's unwavering dedication to sound financial governance and transparency.