The Coca-Cola Company is to increase its investment in Africa. Following meetings in Nigeria and South Africa, the beverage giant’s chief executive and chairman, James Quincey, reaffirmed Coke’s commitment to the continent.
“We believe Africa is a region that will increasingly influence the growth trajectory of our global businesses in just a few years,” Quincey said. “Together with our bottling partners, we continue to reinforce our stake on the continent by accelerating investments that strengthen and scale our capabilities and expand into new businesses.”
Quincey outlined the company’s growth plans in Africa, including investing to boost capacity ahead of demand, consolidating the bottling system to build scale and investing in new businesses to accelerate growth and expand its beverage offering.
Meanwhile, Coke also plans to invest in what it calls the “talent engine” in Africa. “We have an enduring belief that our business is only as sustainable as the communities in which we operate, that means for our business to grow sustainably, our communities must grow also,” Quincey explained.