Heineken says to spend 500 million euros per year in Africa

09/05/2014 - 19:08

ABUJA (Reuters) - Heineken plans to invest 500 million euros ($687.82 million) in annual capital expenditure in Africa over the next few years to maintain its growth on the continent, a senior executive at the world's third largest brewer said on Friday.

The money will be used to upgrade production facilities and on training, said Siep Hiemstra, president for Africa and Middle East for HEINEKEN (HEIA.AM) Africa accounts for one-fifth of Heineken's business and is growing fast, he said. ($1 = 0.7269 Euros)

(Reporting by Chijioke Ohuocha; Editing by Matthew Mpoke Bigg and Pravin Char)