AB InBev announced in April that it would begin exporting eight different African beer brands from the continent and import Corona, Budweiser and Stella Artois.

AB InBev said in a recent finance report: “The business is well-positioned to grow our global brands, with Stella Artois and Corona already present in the market and plans to launch Budweiser later in the year.

“Our South African business saw strong revenue growth of mid-single digits, driven by significant pricing in the period prior to change of control.”

Despite the fall of beer volumes by 1.6% in South Africa, the combined revenues of its three global brands, Budweiser, Stella Artois and Corona, grew by 12.1% and local beer Castle Lite is still growing within the country.

AB InBev added: “Castle Lite continues its strong growth in the core plus segment with packaging innovations aimed at improving convenience for in-home consumption.”

The brewing giants merged with SABMiller in October 2016 in a $100bn deal - the third largest acquisition in history, and the brewing conglomerate has targeted Africa for market growth with mixed results.

AB InBev said: “In Africa, double-digit beer volume and revenue growth was recorded in both Nigeria and Uganda.

“However, in Mozambique, volumes declined by low single digits in response to revenue management initiatives undertaken as a result of devaluation-led inflation.

“Tanzania and Zambia were both negatively impacted by macroeconomic conditions and their non-beer businesses.”