Nile Breweries Limited has said they will not be increasing beer prices despite a global increase in prices of almost all commodities.
Following the outbreak of the Russia-Ukraine invasion a few months ago, prices of a number of commodity prices in several parts of the world went up .
However, in a statement released on Thursday, the beer company said it will not increase prices for its products but will rather maintain them.
“We understand that prices of most commodities, including the raw materials we use to make beer, have increased across the country. However, we also understand that Ugandans are still trying to recover from the upheaval that was the Covid-19 lockdown,” said Onapito Ekomoloit, Nile Breweries Legal and Corporate Affairs Director.
The company explained that since the economic hardships have hit everybody, increasing the prices for their products would be foolhardy.
“We want to stand with all Ugandans during these hard times and get through them together where we can. That is why we are maintaining our current beer prices despite market pressures and the increasing cost of production.”
The company however noted that the decision for maintaining the beer prices is not a guarantee that change in pricing will never happen.
Nile Breweries said the prevailing situation will always determine what they do.
“In the immediate future our mission is to offer the best products to our consumers. We have been with them for years, we understand issues that affect them, and we want to move at their pace as they go through these hardships,”Onpito noted.
The company warned sellers against hiking prices for their products, adding that the recommended retail prices have since been circulated on their social media platforms for the members of the public .
“We need all our sellers to respect the recommended retail prices and if you find anyone selling our beers at a higher than recommended prices or claiming that we have increased our prices, please inform us and we shall follow up,” said Molly Horn, the NBL Trade Marketing Manager .
The development comes a few weeks after the company’s direct competitors, Uganda Breweries announced an increase in their beer prices to match with the soaring inflation in the country.