Visiting Nigeria and South Africa, Quincey met with business and political leaders as the company scales up investments and looks forward to continued growth on the continent
Visiting Nigeria and South Africa, Quincey met with business and political leaders as the company scales up investments and looks forward to continued growth on the continent. Key among his 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. “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 to drive our Total Beverage Company aspiration.”
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.
“It is clear that Africa is indeed a region that will increasingly influence the growth trajectory of global businesses and we have taken some bold measures to strengthen the Coca-Cola System in Africa for long term growth, enhancing our capacity to continue to win in the continent’s increasingly competitive landscape.”
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.”
This is the strong motivation for the significant investments the company continues to make across Africa to help build more resilient communities, enabling the economic empowerment of women and youth downstream and upstream of Coca-Cola’s supply chain; providing access to clean water, sanitation and hygiene facilities through its Replenish Africa Initiative (RAIN); supporting governments to strengthen health systems through Project Last Mile and the Safe Birth Initiative; and addressing environmental concerns particularly around plastic packaging with its World Without Waste vision.
Said Quincey: “Over the past 90 years together with our bottling partners, we have built pervasive and very strong local businesses, creating shared opportunity in every country on the continent. This has been one of our greatest strengths and we will continue playing a significant role in Africa’s sustainable and inclusive growth”.
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PRESS RELEASE
Coca-Cola CEO, James Quincey in Africa, Defines Region as Company’s Future Growth Driver
Visiting Nigeria and South Africa, Quincey met with business and political leaders as the company scales up investments and looks forward to continued growth on the continent
LAGOS, Nigeria, November 20, 2019/ -- The Global CEO and Chairman of The Coca-Cola Company (https://www.Coca-ColaCompany.
Visiting Nigeria and South Africa, Quincey met with business and political leaders as the company scales
up investments and looks forward to continued growth on the continent.
Key among his 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. “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 to drive our Total Beverage Company
aspiration.”
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.
“It is clear that
Africa is indeed a region that will increasingly influence the growth
trajectory of global businesses and we have taken some bold measures to
strengthen the Coca-Cola System in Africa for long term growth,
enhancing our capacity to continue to win in the continent’s
increasingly competitive landscape.”
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.”
This is the strong motivation for the significant investments the company
continues to make across Africa to help build more resilient
communities, enabling the economic empowerment of women and youth
downstream and upstream of Coca-Cola’s supply chain; providing access to clean water, sanitation and hygiene facilities through its Replenish
Africa Initiative (RAIN); supporting governments to strengthen health
systems through Project Last Mile and the Safe Birth Initiative; and
addressing environmental concerns particularly around plastic packaging
with its World Without Waste vision.
Said Quincey: “Over the past 90 years together with our bottling partners, we have built pervasive
and very strong local businesses, creating shared opportunity in every
country on the continent. This has been one of our greatest strengths
and we will continue playing a significant role in Africa’s sustainable
and inclusive growth”.
Distributed by APO Group on behalf of Coca-Cola.
Media Contact:
Linda Okondo
lokondo@coca-cola.com
About The Coca-Cola Company:
The Coca-Cola Company (NYSE: KO) (https://www.Coca-ColaCompany.