Coca-Cola has announced it will invest another US$5 billion into new manufacturing lines, cooling and distribution equipment and production in Africa in a move to create additional jobs and opportunities across its African supply chain.
Announced during the U.S.-Africa Leaders Summit and set to be made over the next six years, the investment increases its total announced investment in Africa to $17 billion from 2010 to 2020 for safe water access, sustainable sourcing, women’s economic empowerment, community well-being and operational efficiency improvements.
Muhtar Kent, Chairman and CEO of The Coca-Cola Company said, “Even as we see tremendous growth potential in Africa, we know that the strength and sustainability of our business are tied directly to the strength and sustainability of the African communities we proudly serve.”
Coca Cola also aims to launch Source Africa, an initiative to secure more consistent and sustainable local ingredient sourcing for its products in partnership with the New Alliance for Food Security and Nutrition and Grow Africa. Source Africa will help farmers in mango and tea production in Kenya; citrus, mango and pineapple production in Nigeria; and mango in Malawi and later focus on sustainable ingredient production in Ethiopia, Senegal, Tanzania and Mozambique.
Source Africa builds on the experience of Coca-Cola’s work in sustainable agriculture, including Project Nurture, an $11.5 million partnership supporting 50,000 small-scale fruit farmers in East Africa to sustainably grow their crops and income.
Recently, the firm was part of a group of organisations that joined the Kenya government to launch Africa’s first Water Fund designed to provide a sustained water supply to a system that delivers water to over 9.3 million people and to generateUS$21.5 million in long term benefits to Kenyan citizens including farmers and businesses.
