• Heineken to sell Bralima stake to Mauritius-based ELNA Holdings
• ELNA takes over operations; Heineken retains brands via licensing
• Deal aligns with asset-light strategy amid DRC security, cost pressures

Heineken has agreed to sell its stake in Brasseries, Limonaderies et Malteries S.A. (Bralima) to Mauritius-based ELNA Holdings Ltd. The Dutch brewer announced the transaction on April 10, 2026, marking a new phase in its operations in the Democratic Republic of Congo (DRC). The group did not disclose financial terms. Bralima operates three breweries in Kinshasa, Kisangani and Lubumbashi.

Under the terms of the deal, ELNA Holdings will take over all local operations, including production, distribution, workforce management and stakeholder relations. Heineken said it will retain ownership of its international and local brands produced in the DRC, including Heineken, Primus, Turbo King, Legend and Mützig, and will continue to operate in the Congolese market through long-term licensing agreements.

The deal structure allows the group to maintain a commercial presence without directly managing industrial operations. Heineken said the transaction does not represent an exit from the Congolese market, but rather a shift toward an asset-light model focused on brand ownership and monetizing its rights rather than day-to-day management of production sites.

In its statement, Heineken said the transaction is part of its EverGreen 2030 strategy, which calls for active portfolio management, optimization of its operational footprint and a shift toward an asset-light model in certain markets. As part of that strategy, the group also intends to concentrate its efforts on a limited number of high-potential markets.

The arrangement allows Heineken to reduce its direct industrial exposure while continuing to capture value through its brands, licenses and royalties. For some industry observers, the transaction is designed to improve returns in the DRC: Heineken remains present in the market but with fewer assets on its balance sheet and potentially lower fixed costs.

The sale of Bralima comes months after Heineken transferred its Bukavu brewery to Synergy Ventures Holdings Ltd for a symbolic one euro, following the loss of operational control of the site amid deteriorating security conditions in eastern DRC. Heineken had said at the time that it had lost control of its facilities in Bukavu, Goma and surrounding areas after they were seized by armed men.

In its 2025 accounts, the group also recorded an impairment of 113 million euros linked to its DRC operations, reflecting the tangible financial impact of the disruptions affecting Bralima.

The decision also comes amid broader cost-cutting within the group. Reuters reported in February 2026 that Heineken was targeting up to 6,000 job cuts globally as part of its efficiency drive. In March, the group also announced the gradual phase-out of large-scale production at its Tuas brewery in Singapore by 2027, with output to be transferred to other regional sites.

Timothée Manoke, with Bankable