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Coca-Cola, in cooperation with its Nigeria bottling partners, has announced an investment of $1 billion to expand its investments in the country over the next five years.
Coca‑Cola said it intended to double its investment rate to support various areas of the value chain, including suppliers, distributors, retailers and recyclers.
The new money comes on top of $1.5 billion Coca‑Cola Hellenic Bottling Company (Coca-Cola HBC), known locally as Nigerian Bottling Company, has invested in Nigeria in the last ten years.
Commenting on the move, Coca-Cola president and chief financial officer John Murphy said: “The investment highlights our system’s efforts to drive scalable initiatives while also preserving the value of local relevance. Coca-Cola has been an integral part of the African continent for over 96 years and today’s investment in Nigeria reiterates our optimism about the continent”.
Coca‑Cola HBC chief executive officer Zoran Bogdanovic added: “The Coca‑Cola System has been part of Nigerian communities for over 70 years and believes in the strength and continued potential of the market. We are excited to announce this investment, which demonstrates our dedication to fostering economic growth and creating job opportunities in the country”.
Coca-Cola employs 2,800 staff across eight production facilities in Nigeria.
Source: Coca-Cola / Coca-Cola HBC
