Heineken to inject $5m in Ghana's brewery

Good news for Ghana’s beer fans - Heineken breweries is to inject US$5 million in the country's brewery.

ACCRA: Heineken Breweries, the majority shareholder of Ghana Breweries, is to inject US$5 million in equity into the Ghanaian brewery.

A statement in Accra said Heineken would also convert US$7.5 million of inter-company debts into equity following Heineken's approval in principle of the capital restructuring plans proposed by Ghana Breweries.

The statement said the implementation of the restructuring plans would commence as soon as the necessary approvals had been received from the shareholders and the Ghanaian Stock Exchange.

It said the capital restructuring plan was aimed at addressing the weak capital structure of Ghana Breweries by maximising currency risks, reducing the dependence on short-term borrowings and reducing the deficit on its income surplus account.