JOHANNESBURG, April 1 (Reuters) – Coca-Cola and its two authorized bottlers, Coca-Cola Beverages South Africa and Coca-Cola Peninsula Beverages, will invest 17.6 billion rand ($1.05 billion) in South Africa through 2030, to support expanded production capacity, the company said. The announcement was made by Luis Felipe Avellar, president of the Coca-Cola Company’s Africa operating unit, on […]
Business
Coca-Cola plans to invest $1 billion in South Africa through 2030
Audio By Carbonatix
JOHANNESBURG, April 1 (Reuters) – Coca-Cola and its two authorized bottlers, Coca-Cola Beverages South Africa and Coca-Cola Peninsula Beverages, will invest 17.6 billion rand ($1.05 billion) in South Africa through 2030, to support expanded production capacity, the company said.
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, where President Cyril Ramaphosa set a target of attracting 2 trillion rand in new investments over the next five years.
The investment will support expanded production capacity, strengthen distribution and accelerate innovation across the “Coca-Cola system’s” value chain, Coca-Cola Africa said in a statement.
($1 = 16.7809 rand)
(Reporting by Nqobile DludlaEditing by Tomasz Janowski)