Coca-Cola and its bottling partners contributed US $10.4 billion in economic activity across Africa in 2024 while supporting more than 1 million jobs, according to a study released at the U.S.-Africa Business Summit, writes Winston Mwale in Africa Brief.
The U.S.- Africa Business Summit was organized in Luanda, Angola from June 22 to 25.
The Summit was attended by over 1,500 delegates including African presidents, heads of government and ministers, senior U.S. Government officials and leaders from U.S. and African companies.
The beverage giant’s African operations supported 36,800 direct jobs and 987,000 indirect positions across retail, agriculture, manufacturing, transport and services, creating 27 additional jobs for every direct position.
“Our long-standing presence in Africa, working with locally owned bottlers and suppliers, allows us to drive more sustainable growth and contribute to the continent’s development,” said Luisa Ortega, president of Coca-Cola’s Africa operating unit.
Ortega said stable policy environments would enable additional investments across the continent.
The study by consultancy Steward Redqueen found Coca-Cola invested US $4.3 billion in African suppliers in 2024, representing 83% of its continental procurement.
Coca-Cola operates across 54 African markets through a network of authorized bottlers, suppliers and distributors.
The US city Atlanta-based company announced nearly US $1.2 billion in planned African investments over five years, plus US $25 million by 2030 to address water challenges in 20 markets.
“Our impact assessment reveals the wide-reaching economic footprint of the Coca-Cola system across Africa,” said Teodora Nenova, managing partner at Steward Redqueen.
The study examined direct contributions and economic linkages showing how Coca-Cola drives production, income generation and employment across multiple industries.
(The report reprinted with courtesy)
