Coca-Cola (KO.N) and its two authorized bottlers, Coca-Cola Beverages South Africa and Coca-Cola Peninsula Beverages, plan to invest 17.6 billion rand ($1.05 billion) in South Africa through 2030 to expand production capacity, the company said, according to Reuters.
The announcement was made by Luis Felipe Avellar, president of the Coca-Cola Company’s Africa operating unit, on Tuesday evening at an investment conference in Johannesburg.
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At the event, President Cyril Ramaphosa set a goal of attracting 2 trillion rand in new investments over the next five years.
According to Coca-Cola Africa, the investment will support expanded production capacity, strengthen distribution networks, and accelerate innovation across the “Coca-Cola system’s” value chain.
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Image Credit: Nexstar Media Inc
