In 1967 the Government of Tanzania made their first equity investment in TBL through their acquisition of 45% stake in the brewery.

In 1993 the Tanzanian government entered into a joint venture with South African Breweries International (Now SABMiller) to run TBL.

SABMiller turned TBL around with extraordinary speed, almost tripling production in the space of three years.

[7] In 2002, Diageo backed EABL acquired a 20% equity stake in TBL after it (EABL) signed license agreements with South African Breweries International and agreed to issue SABI a similar share Kenya Breweries Limited.

[9] On March 14, 2013, the TBL acquired 60% of the share capital of Dar es Salaam based Darbrew Limited for TSh 8,816 million and obtained control of the company.

The shareholding in the company's stock as at March 31, 2013 was as depicted in the table below:[8] Tanzania Breweries Limited is governed by a ten-person Board of Directors with Leonard Mususa serving as the Chairman of the group and Philip Redman as the Managing Director.