The Coca-Cola System in Nigeria, comprised of Coca-Cola Nigeria and its authorised bottler, Nigeria Bottling Company (NBC), have announced plans to expand its investments in Nigeria over the next five years.
The investment is expected to support value chain areas, including suppliers, distributors, retailers and recyclers.
The announcement was made at the State House in Nigeria, where a Coca-Cola System delegation was hosted by President of Nigeria, Bola Ahmed Tinubu. International Coca-Cola System representatives were also present including president and chief financial officer of The Coca-Cola Company, John Murphy and CEO of Coca-Cola Hellenic Bottling Company, Zoran Bogdanovic.
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.”
Bogdanovic commented: “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.”
“Our investment goes beyond business growth; it’s about contributing to the well-being of the communities we call home. We foresee significant social and economic advancements, which is why we continue to invest in our business operations and community programs in Nigeria.”
Luisa Ortega, president of Coca-Cola’s Africa operating unit, added: “By working in partnership with the government and other stakeholders, we can drive sustainable development and economic empowerment. Our collective efforts can create a lasting positive impact on the communities we serve.”
President Tinubu noted how Coca-Cola’s long-standing partnership with Nigeria has promoted investment opportunities that have employed over 3000 people across nine production facilities. “We are building a financial system where you can invest, re-invest and repatriate all your dividends. I have a firm belief in that,” he said.
by Phoebe Fraser
Source: foodbev.com
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