East African Breweries PLC (EABL) has announced the appointment of Justin Mollel as its Group Chief Financial Officer (CFO).
In a notice dated 12th March 2026, the company said Mollel will assume the role of Group CFO Designate on 1st May 2026, ahead of taking over fully as CFO on 1st July 2026. He will succeed the outgoing CFO after the completion of a structured handover.
“The Board of Directors of East African Breweries PLC (EABL) is pleased to announce the appointment of Mr. Justin Mollel as the Group Chief Financial Officer Designate with effect from 1st May 2026 to succeed the incumbent Chief Financial Officer with effect from 1 July 2026,” read part of the notice.
Justin Mollel’s impressive career journey
Justin Mollel has over 15 years of experience in finance and business leadership, spanning financial strategy, business performance management, statutory reporting, risk management, change management, auditing, and regulatory compliance.
His career has included roles in both listed and non-listed organizations, with a strong track record of supporting high-growth and complex business environments.
Mollel currently serves as Finance Director at Diageo Ireland, where he has earned recognition for his work in financial transformation, operational oversight, and process improvement.
Also Read: Diageo to Exit Kenya With Sale of Entire EABL Stake to Japanese Giant
He previously held senior positions at Guinness Ghana and Serengeti Breweries Limited in Tanzania, where he played an instrumental role in shaping financial strategy and driving performance.
Justin Mollel holds a Master of Business Administration (MBA) and a Bachelor of Commerce (Accounting) from the University of Dar es Salaam. He is also a Certified Public Accountant and a registered member of the National Board of Accountants and Auditors (NBAA) of Tanzania.
In the notice, the Board congratulated him on his appointment and expressed confidence in his ability to steer the company’s financial functions as he steps into the new role.
“The Board takes this opportunity to congratulate Justin on his appointment and wish him the best as he takes on this new role,” read the notice.
Risper Ohaga’s EABL Exit After Six Years
Mollel’s appointment came after Risper Ohaga’s exit from the listed firm, after serving as the company’s Group Chief Financial Officer and Executive Director since February 2020.
In a public announcement on January 14, the Company’s Board of Directors confirmed Ohaga’s exit to pursue interests outside the EABL Group, aligning with her career aspirations.
Also Read: Risper Ohaga Resigns After Six-Year Tenure as EABL Executive Director
Over the past six years, she has helped guide the company through tough economic times, tightened financial controls, and provided steady leadership as EABL navigated important decisions, including those linked to a major shift in the company’s ownership.
Risper will officially leave EABL on 30 June 2026. She is moving on to become the Group Chief Executive Officer at APA Apollo Group, a large insurance and asset management company.
Looming EABL Sale to Asahi Group
In December 2025, EABL stated that Diageo Plc, its parent company, had informed its board of the planned sale. Diageo agreed to sell its entire 65% stake in EABL, plus its share in the Kenyan spirits company UDVK, to Japan’s Asahi Group for about $2.3 billion. This means Asahi will become the new majority owner of EABL.
The deal still requires regulatory approval and is expected to be completed in the second half of 2026. Even after the sale, Diageo will continue to license brands like Guinness and Smirnoff to EABL.
The brewer will retain ownership of its local brands, such as Tusker, and will remain listed on stock exchanges in Kenya, Uganda, and Tanzania.
Diageo Interim Chief Executive Officer Nik Jhangiani said the company was proud of the growth achieved with EABL across the region and noted that the deal creates value for shareholders while strengthening Diageo’s financial position.
“We are incredibly proud of the achievements of EABL and our colleagues across Kenya, Uganda, and Tanzania… We are excited to partner with Asahi through the licensing of Diageo brands in the region going forward,” he said.
