Cervejas de Moçambique

What Cervejas de Moçambique does

Cervejas de Moçambique (CDM) is the largest brewer in Mozambique, founded in 1995 and listed on the Mozambique Stock Exchange (BVM) since 2001 under the ticker CDM, with 121.77 million shares at a nominal value of 2.00 MT and share capital of 243.5 million MZN. Since 2016 the company has operated as an indirect subsidiary of AB InBev, the world's largest brewer, which provides access to global brands, technical expertise, and shared services. The company operates four breweries across Mozambique and employs between 1,001 and 5,000 people in production, distribution, and commercial functions.

The company's product portfolio combines locally produced beer brands — 2M, Impala, Manica, and Laurentina — with licensed international brands including Corona, Budweiser, Stella Artois, Castle Lite, and Flying Fish. CDM engages an extensive local agricultural sourcing program involving thousands of smallholder farmers for inputs such as sorghum, and has implemented sustainability initiatives including a 90% returnable packaging rate. New product introductions, including a 2M corn-based variant, and capacity expansion through the Marracuene brewery (commissioned around 2020 and described as one of the largest in Africa) point to ongoing portfolio and footprint development.

CDM's business model is centered on manufacturing and selling beer and other malt beverages at scale within the domestic Mozambican market, generating revenue primarily through wholesale distribution to fragmented retail and on-trade channels (retailers, restaurants, bars, and wholesalers). Pricing is structured across multiple price tiers via the brand portfolio — from the Impala sorghum range under a special excise regime, through mainstream lagers such as 2M and Laurentina, to premium international labels — enabling the company to capture demand across income segments while leveraging AB InBev's procurement and brewing technology backbone.

Name

Cervejas de Moçambique

Legal name

Cervejas de Moçambique, SA

Website

https://cdm.co.mz

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cervejas de Moçambique is Mozambique's largest brewer, operating four breweries that produce local brands (2M, Impala, Laurentina, Manica) and licensed international brands, serving the domestic consumer market through retail and on-trade channels as an indirect AB InBev subsidiary.

Ownership category

akta.pro rank

Product category

Beer Brewing

NAICS

Breweries (31212), Breweries (312120), Beverage Manufacturing (3121)

SIC

Malt Beverages (2082), Beverages (2080)

akta.pro primary industry

Beer Brewing & Brands (CRADAIAA)

Keywords

• Beer brewing
• Alcoholic beverages
• Brewery operations
• Beer distribution
• Beverage manufacturing

Headquarters

HQ city

Maputo

HQ country

Mozambique

HQ region

Africa

Offices4 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Beer Production and Sales: CDM generates revenue through the production and sale of beer and alcoholic beverages across Mozambique, operating as the largest national brewer with both local brands and ABInBev global brands.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels10 records

Core offering

Cervejas de Moçambique (CDM) is Mozambique's largest brewer, producing, marketing, and distributing a portfolio of owned domestic beer brands (2M, Manica, Impala, Laurentina Preta, Laurentina Premium, Chibuku) and licensed international brands (Corona, Budweiser, Stella Artois, Castle Lite, Flying Fish) through four breweries across the country. The company is an indirect subsidiary of AB InBev and operates a Route-to-Market direct distribution model reaching retail outlets, bars, restaurants, and informal traders nationwide.

Product overview

Cervejas de Moçambique (CDM) is the largest and leading beer company in Mozambique, operating as a subsidiary of AB InBev. The product portfolio consists of owned domestic brands and licensed international brands. Owned core brands include: 2M (the number 1 mainstream lager, launched 1965), Manica (regional lager launched 1960), Impala (world's first cassava beer, launched 2011, expanded with corn variant in 2017), Laurentina Preta (only Mozambican black lager, produced since 1955), and Laurentina Premium (only Mozambican clear premium beer, 100% malt, launched 2009). Licensed international premium brands distributed in Mozambique include: Castle Lite (light beer, launched 2012), Corona (Mexican lager, distributed since 2018), Budweiser (American lager, distributed since 2018), Stella Artois (Belgian beer, distributed since 2017), and Flying Fish (premium flavoured beer, launched 2014). CDM operates four breweries located in Maputo, Marracuene (the largest and most modern, inaugurated 2020), Beira, and Nampula, serving the entire country.

Differentiator

Problem solved

Functional benefit

Brands

• 2M: Mainstream beer launched in 1965, currently the number 1 beer of CDM. Named after ex-French president Marie Edmé Patrice Maurice de MacMahon. Sold in South Africa, Portugal, and England through Nandos partnership.
• Impala
• Manica
• Castle Lite
• Corona
• Flying Fish
• Budweiser
• Stella Artois
• Laurentina Preta
• Laurentina Premium

Products and services

• 2M Mainstream lager and CDM's #1 beer — an easy-to-drink, light and refreshing lager brewed with water, malt, and sugar. Named after former French president Marie Edmé Patrice Maurice de Mac Mahon. Sponsor of the Mozambola football championship and annual 2M Beach Soccer Cup. Sold domestically and exported via Nandos to South Africa, Portugal, and England.
• Impala (Mandioca / Milho) Impala is a socioeconomic beer brand brewed from local cassava (Impala Mandioca, launched 2011) and corn (Impala Milho, launched December 2017). It is the first cassava beer in the world and supports more than 7,500 farmers (rising to 14,000+) supplying raw materials. The only CDM brand with a special excise tax rate, targeting rural areas and consumers with lower purchasing power.
• Manica Rich, full-bodied, and full-flavoured beer named after the Manica province; originally launched in 1960 in the central region and expanded nationwide in 2011. Won first place at African Beer Awards 2015 in the clear beer category with ABV above 5%. Brand image refreshed in 2017 alongside the launch of the 'Cena de Manos' TV series.
• Laurentina Preta First and only dark lager made in Mozambique, distinguished by a unique combination of four malts (black, caramel, Munich, and roasted) giving it a unique aroma and intense colour. Produced since 1955 and acquired by CDM in 2002; winner of Gold at Monde Selection 2008, two Gold Stars at Superior Taste Awards 2013, and Best African Beer 2013 and 2015 at African Beer Awards.
• Laurentina Premium Premium clear beer made from 100% malt and launched in 2009; the only Mozambican clear premium beer and the only national beer bottled in a green bottle. Associated with jazz and music generally. Won the Grand Gold medal at Monde Selection 2009 in Brussels.
• Castle Lite Extra-cold light beer with fewer calories and carbohydrates than conventional beers; introduced in Mozambique in 2012. Features an innovative temperature-reactive label that indicates the optimal consumption temperature of 2.5°C. Targeted at health-conscious, active, and dynamic consumers.
• Corona Mexican lager from 1925, distributed by CDM in Mozambique since 2018. Classic and authentic beer associated with beach, sunset, and outdoor moments. Traditionally served chilled at 3°C with a slice of lime in the bottle.
• Budweiser American lager originating in 1876 in the United States, sold in Mozambique since 2018. Light-bodied with a discreet aroma from aged beechwood chips used in fermentation and maturation; takes 4 weeks to brew. The world's #1 selling beer sold in over 80 countries. Sponsor of FIFA World Cup and Tomorrowland festival.
• Stella Artois Belgian beer with over 600 years of brewing heritage, originally from 1366 in Leuven; considered the second oldest beer in the world. Distributed by CDM in Mozambique since 2017, served in a specific chalice designed to enhance flavour and foam retention.
• Flying Fish Premium flavoured beer launched in Mozambique in 2014. Refreshing and easy to drink, targeted at consumers who prefer sweeter, more vibrant flavours.
• Chibuku Opaque beer made from sorghum, representing a traditional African beer style. Launched in Mozambique in 2013 under CDM as part of the AB InBev portfolio.

Quantifiable outcome

• More than 7,500 farmers supply raw materials for Impala beer production
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

26 partnerships are on record, tiered minor and core.

• BCI (Banco Comercial e de Investimentos)minorOthers · 4 April 2024BCI provided auditorium venue for CDM's II Workshop Mulheres na Liderança, featuring diverse panel of women leaders.
• Federação Moçambicana de Futebol (FMF)coreStrategic or Co-development Partner · 1 January 2024Pioneer sponsorship of the Mozambique national football team 'Mambas' for CAN 2023. All 2M brand sales during Mambas matches were channeled to support the campaign. Partnership inspired other companies to follow with their own support.
• Fórum MulherminorStrategic or Co-development Partner · 1 January 2024Partnership for first Women in Leadership Workshop focusing on women's rights and empowerment in Mozambique's labor sector.
• INGD (Instituto Nacional de Gestão e Redução de Risco de Desastres)minorStrategic or Co-development Partner · 1 January 2024Partnership for flood relief donations to families in Marracuene district affected by heavy rains.
• FIPAG (Fundo de Investimento e Património de Abastecimento de Água)coreStrategic or Co-development Partner · 1 January 2023CDM signed a Memorandum of Understanding with FIPAG to invest approximately 32 million meticais in hydraulic infrastructure with capacity of 40m3/h water production. Construction of 10 water boreholes benefiting approximately 300 families in Nampula province.
• Ministério da Terra e AmbientecoreStrategic or Co-development Partner · 1 January 2023Co-organization of 4th edition of CDM Ambiente Environmental Journalism Award, with over 37 candidates participating.
• MISA MoçambiqueminorStrategic or Co-development Partner · 1 January 2023Partner in 4th CDM Ambiente Environmental Journalism Award.
• Associação de Educação Ambiental - REPENSARminorStrategic or Co-development Partner · 1 January 2023Environmental education partner for CDM Ambiente award and EconSila recycling center initiatives.
• INATROminorGTM or Marketing Partner · 19 December 2022Partner in Calma-lá responsible consumption campaign.
• INATURminorGTM or Marketing Partner · 19 December 2022Partner in Calma-lá responsible consumption campaign.
• Polícia de TrânsitominorGTM or Marketing Partner · 19 December 2022Partner in Calma-lá responsible consumption campaign promoting road safety.
• AMVIROminorGTM or Marketing Partner · 19 December 2022Partner in Calma-lá responsible consumption campaign.
• CTA (Confederação das Associações Económicas)coreGTM or Marketing Partner · 1 December 2022Launch of first national campaign on prevention of illicit alcohol consumption, in partnership with MISAU, INAE, APIBA, and US Embassy.
• MISAU (Ministério da Saúde)coreGTM or Marketing Partner · 1 December 2022Campaign against illicit alcohol, addressing public health risks, brand integrity, and national economy.
• INAE (Instituto Nacional de Álcool e Exposições)minorGTM or Marketing Partner · 1 December 2022Campaign partner for preventing illicit alcohol consumption in Mozambique.
• APIBA (Associação de Produtores e Importadores de Bebidas Alcoólicas)coreGTM or Marketing Partner · 1 December 2022Core industry partner for responsible consumption and anti-illicit alcohol campaigns.
• Embaixada dos EUA em MoçambiqueminorGTM or Marketing Partner · 1 December 2022Partner in national campaign against illicit alcohol consumption.
• Ministério da Terra e AmbientecoreStrategic or Co-development Partner · 13 July 2022Co-organized first National Conference on Environment with theme 'Climate Change and Development: What Challenges for Mozambique?' with 70+ in-person and 300+ virtual participants.
• Universidade Eduardo MondlaneminorStrategic or Co-development Partner · 13 July 2022Academic partner for National Environment Conference.
• CTA (Confederação das Associações Económicas)minorStrategic or Co-development Partner · 13 July 2022Business association partner for National Environment Conference.
• APIBA (Associação de Produtores e Importadores de Bebidas Alcoólicas)minorStrategic or Co-development Partner · 13 July 2022Industry association partner for National Environment Conference.
• Cooperativa de Educação Ambiental (Repensar)coreStrategic or Co-development Partner · 1 February 2022Partnership with Repensar environmental cooperative and Matola City Council to establish EconSila, the first ecological glass recycling center in Machava neighborhood. The center recycles glass bottles into construction materials like blocks and pavers.
• Conselho Municipal da Cidade da MatolacoreStrategic or Co-development Partner · 1 February 2022Municipal partnership for EconSila ecological glass recycling center, aiming to expand similar centers to provinces where CDM factories are located.
• Gabinete da Primeira DamaminorStrategic or Co-development Partner · 1 January 2020Partnership to donate 100 tonnes of corn and cassava flour to refugees from military attacks in Cabo Delgado and 4,000 small establishments affected by COVID-19, enabling preparation of over 300,000 meals.
• Banco de Sangue do HCM (Hospital Central de Maputo)minorStrategic or Co-development Partner · 1 January 2020Blood donation drive organized by CDM with over 60 volunteers contributing to blood bank reserves during COVID-19 pandemic.
• NandosminorChannel Partner/ Reseller/ Distributor · 1 January 2016Export partnership for 2M beer distribution in South Africa, Portugal, and England through Nandos restaurant chain.

Scale indicators8 records

Recent moves10 records

Expansion highlights4 records

Direct peers

• Bralima: AB InBev's DRC brewery (Primus, Skol, Mützig). Highly comparable as a Francophone/Sub-Saharan African subsidiary of AB InBev producing local and international brands in a similarly emerging market.
• Accra Brewery Limited: AB InBev subsidiary in Ghana producing local brands (Star, Club) and international brands. Directly comparable as a West African AB InBev national brewer; CDM's current GM previously served as GD in Ghana.
• South African Breweries (SAB): Sister company under AB InBev and historically the parent of CDM before the AB InBev-SABMiller merger. Comparable as a national champion brewer in an African market with multi-brand portfolio (Castle Lager, Carling Black Label, Hansa).
• Zambia Breweries: AB InBev subsidiary in Zambia (Mosi Lager, Castle). Highly comparable as a Southern African AB InBev national brewer with similar market positioning, local brand heritage, and sorghum/cassava adjacent products.
• Nile Breweries: AB InBev subsidiary and leading Ugandan brewer (Bell Lager, Nile Special). Directly comparable as an East African national brewer with similar local brand + international brand mix and AB InBev operational standards.

Broad incumbents

• Nigerian Breweries Plc: Heineken-controlled brewer in Nigeria (Star Lager, Gulder, Heineken). Comparable as Africa's largest publicly listed brewer with national champion status and similar large-scale multi-brand operations.
• Castel Group: French beverage group with extensive brewing operations across Africa (e.g., Brarudi in Burundi, Sobraga in Gabon, Solibra in Côte d'Ivoire). Comparable as a competitor African brewer operating in multiple national markets with similar local brand strategies.
• East African Breweries Limited (EABL): Diageo-majority brewer operating in Kenya, Uganda, Tanzania (Tusker, Bell, Serengeti). Comparable as a publicly listed East African regional brewer with multi-country footprint, though Diageo's ownership creates a different strategic lens.

Regional players

• Delta Corporation: Zimbabwean beverages group producing lagers (Sorghum beer, Castle, Lion). Comparable as a Southern African publicly listed brewer with local and licensed international brands in a similarly sized emerging market.

Emerging players

• Bakhresa Group / Serengeti Breweries: Tanzanian brewing and food group including Serengeti Breweries (Serengeti Premium Lager). Comparable as an emerging East African challenger brewer with growing multi-brand portfolio in a neighboring market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/CDMCervejasdeMocambique
• LinkedInlinkedin.com/company/cdm-cervejas-de-mocambique/?viewAsMember=true
• Instagraminstagram.com/cdm_cervejas_de_mocambique

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cervejas de Moçambique