Coca-Cola global CEO says Africa is the company’s future

Africa has a population of over 1.3 billion people, and with a majority of them being youth, the continent is considered the youngest in the world. It’s therefore not surprising to hear beverage company Coca-Cola see Africa as the future of its market for growth.

At the end of a tour of two African countries, the Global CEO and Chairman of The Coca-Cola Company, James Quincey stated that the visit was 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.

“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,” Quincey said, adding, “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 who met executives of MTN, Unilever and others, including Tony Elumelu, 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.

He also noted the potential of the Africa Continental Free Trade Agreement.

According to him, in addition to those, were Africa’s positive consumer demographics, the infrastructure expansion in many countries, and the growing emphasis on building African talent.

By Emmanuel K. Dogbevi