Source: BI Africa

Coca-Cola and its authorised bottlers, Coca-Cola Beverages South Africa and Coca-Cola Peninsula Beverages, plan to invest 17.6 billion rand ($1.05 billion) in South Africa through 2030 to expand production capacity.

Coca-Cola and its authorised bottlers, Coca-Cola Beverages South Africa and Coca-Cola Peninsula Beverages, plan to invest 17.6 billion rand ($1.05 billion) in South Africa through 2030 to expand production capacity, the company said.

The announcement was made on Tuesday evening by Luis Felipe Avellar, president of Coca-Cola’s Africa operating unit, at an investment conference in Johannesburg.

The event aligns with Cyril Ramaphosa’s efforts to attract 2 trillion rand in new investment over the next five years into Africa’s richest economy by GDP — valued at $410 billion — and the continent’s most industrialised country.

The funds will be used to scale up production, strengthen distribution networks, and accelerate innovation across the Coca-Cola system’s value chain, according to Reuters’ report.

Coca-Cola has continued to deepen its footprint across Africa through a series of major investments and acquisitions. Last year, Coca-Cola Hellenic Bottling Company agreed to acquire a 75% stake in Coca-Cola Beverages Africa for $2.6 billion, a deal set to cement its position as one of the continent’s most influential beverage players once completed.

However, the transaction has raised labour concerns in South Africa, with reports pointing to potential job cuts at Coca-Cola Beverages South Africa during the restructuring phase.

In Nigeria, Coca-Cola HBC has also signalled further expansion, announcing plans in 2024 to invest an additional $1 billion over five years to tap into growth opportunities in the country’s beverage market.

Coca-Cola to Invest $1 Billion in South Africa Through 2030

Suggested for you

More Stories

Zongo Development Fund CEO accuses predecessor of keeping official car during investigation

Special Committee Does Not Exist, So PAC Recommendations Do Not Work - James Klutse Avedzi

Ghana loses $70m in rubber export revenue due to under-declaration and permit violations

Government Approves 7,000 Teacher Jobs And 1,200 Tertiary Faculty Positions

Accra Mayor Orders Temporary Closure of Kaneshie Footbridges Over Safety Concerns

Indian billionaire Ravi Jaipuria's Varun Beverages buys South African Twizza for $125 million

Discussion