Coca-Cola To Invest US$175M In Kenya Over Five years

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Coca-Cola To Invest US$175M In Kenya Over Five years
Coca-Cola To Invest US$175M In Kenya Over Five years

Coca-Cola Beverages Africa, a subsidiary of The Coca-Cola Company, has announced plans to invest up to US$175 million in Kenya over the next five years, contingent on achieving projected growth targets.  

This significant investment aims to expand the company’s capacity and capabilities in the region. 

Sunil Gupta, CEO of Coca-Cola Beverages Africa said, “The Coca-Cola system has been an integral part of Kenya’s landscape for more than 75 years. Today, we are excited to announce our intention to strengthen this legacy through a substantial investment.” 

This investment is intended to accelerate the Coca-Cola system’s expansion in Kenya, reflecting the company’s confidence in the country’s economic potential. 

Luisa Ortega, President of The Coca-Cola Company’s Africa Operating Unit, emphasized the importance of collaboration with the Kenyan government to create a stable policy environment that fosters business growth. 

“The Coca-Cola system has been part of communities in Kenya for more than seven decades,” said Ortega. “We are excited to continue growing our business and supporting communities across Kenya for many years to come.” 

President Ruto welcomed the commitment, highlighting the importance of continued collaboration. “This is a milestone in the firm’s presence in Kenya and Africa, a testimony that we must sustain our strong collaboration for us to grow,” he stated. 

Ruto also commended CCBA’s continental initiatives, particularly the Replenish Africa Initiative (RAIN), which aims to improve access to water and sanitation for millions of people across Africa. 

Ruto also highlighted Coca-Cola’s contributions to environmental and humanitarian efforts in Kenya.  

In 2020, the company granted Kes211 million to the Upper Tana-Nairobi Water Fund to enhance water and soil conservation. Additionally, Coca-Cola contributed US$500,000 to drought mitigation efforts in Kenya in 2022. 

The Coca-Cola system plays a significant role in the Kenyan economy, directly employing 10,000 people and indirectly supporting the livelihoods of over a million people in distribution, sales, and other roles.  

The company also works with over 500,000 Micro, Small, and Medium Enterprises (MSMEs) across the region, fostering economic development through partnerships. 

“Our value chain supports livelihoods for over a million people,” said Gupta. “We source close to 8,000 metric tons of mango puree from East African farmers. We believe in the region’s potential and its ability to achieve significant growth through collaboration between public and private sectors.” 

Coca-Cola Beverages Africa’s investment plan underscores its commitment to a localized approach in Kenya. The company prioritizes hiring local talent, producing products locally, and distributing and sourcing ingredients within the country. 

“We foresee great social and economic advancement, and this is why we continue to invest in our Kenyan business as well as community programs that help strengthen Kenya’s prosperity,” concluded Ortega. 

Source: Food Business Africa