The investment, which will be channelled towards modernization of equipment and expanding existing capacity as well as increasing the company’s presence in juice, reinforces the $12bn investment commitment for the continent by the year 2020.
TCCC has already pumped $6bn into the African economy over the last decade.
The announcement by Coca-Cola follows reports that US based PepsiCo and London based SABMiller are considering the establishment of manufacturing plants in Nairobi, Kenya.
“Coca-Cola is bullish about Africa and our commitment to the continent is enduring and unshakable,” said Ahmet Bozer, Coca-Cola’s Eurasia-Africa group president.
“We see tremendous growth potential for Africa and particularly Kenya. Its steady rate of economic growth, well-educated population and efforts by the Government in reform and infrastructure upgrade over the last six years have given us confidence and optimism about doing business here.
“Evidence of this view is supported by recent operational changes with the Nairobi regional headquarters now responsible for a total of 39 countries – an increase from the 27 countries it covered previously – adding Nigeria and French West Africa to its existing portfolio of East and Central Africa markets”.
The company says demographic and economic trends in the region are fuelling investment – both from Coca-Cola and other companies. According to the Ministry of Youth Affairs and Sports, approximately 70% of the population in Kenya is under the age of 30. This, coupled with other factors such as increasing discretionary income and a rising middle class, has alerted international companies to the future and expansive growth potential of both the region and the continent, in general.
With seven bottling plants and over 22 production lines across Kenya alone, Coca-Cola is the largest non-alcoholic beverage investor in the country.
Source: Kenya Broadcasting Company
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