AFRICA – The Global CEO and Chairman of The Coca-Cola Company, James Quincey accompanied by his extended leadership team embarked on tour in Nigeria and South Africa, a testament of Coca-Cola’s commitment to Africa and its interest in the vast opportunity that the continent presents in driving the beverage company’s overarching growth strategy over the next decade.
During his visit, Quincey met with business and political leaders as the company scales up investments and looks forward to continued growth on the continent.
He outlined the company’s growth plans in Africa, including continuously 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.
He also cited Coca-Cola’s role in spurring Africa’s economy through the eco-system the company has built and continues to foster investments across multiple sectors on the continent.
Underpinning this, he emphasized that the Company is committed to building a talent engine in Africa, creating shared opportunities to enhance the prosperity of communities across the continent.
“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.”
Key among Quincey’s engagements was discussions with Africa’s foremost entrepreneur and industrialist Dr Aliko Dangote who stands out as an example of indigenous African investors who are driving growth across the continent.
Other engagements included meetings with top executives from Discovery Group, MTN, Unilever and the Johannesburg Stock Exchange, and thought leaders such as Tony Elumelu (Chairman of Heirs Holding), Doyin Salami (Chairman of Nigeria’s Economic Advisory Council) and Fred Swaniker from the Africa Leadership Academy.
These engagements provided Quincey and his team with critical insights about Africa’s opportunities.
“Having operated in Africa for over 90 years as a local business in every country, we believe Africa is a region that will increasingly influence the growth trajectory of our global businesses in just a few years,” he said.
Quincey highlighted a number of positive and encouraging developments across Africa which he described as important foundations for strong economic growth and, if sustained, will fast track the continent’s role as a global growth engine.
These include the growing scale of domestic investments by African investors across sectors and the potential of the Africa Continental Free Trade Agreement (AfCFTA).
Added to these were Africa’s positive consumer demographics, the infrastructure expansion in many countries, and the growing emphasis on building African talent, reports APO-Group.
The Coca-Cola Company is a total beverage company, offering over 500 brands in more than 200 countries and territories.
In addition to the company’s Coca-Cola brand, its portfolio includes AdeS, Ayataka, Costa, Dasani, Del Valle, Fanta, Georgia, Gold Peak, Honest, innocent, Minute Maid, Powerade, Simply, smartwater, Sprite, vitaminwater and ZICO.