By Antynet Ford
Coca-Cola has announced plans to increase its investment in Kenya by up to Sh23 billion ($175 million) over the next five years, assuming the corporation meets its expected growth targets in the nation.
Sunil Gupta, CEO of Coca-Cola Beverages Africa, welcomed President William Ruto and his delegate including Investment Trade and Industrialization CS Rebecca Miano to The Coca-Cola Company’s headquarters in Atlanta.
“The Coca-Cola system has been a part of Kenya’s landscape for over 75 years. Today, we are pleased to announce our plan to strengthen this heritage with a significant investment.” Sunil
Announced.
This investment is aimed at accelerating the Coca-Cola system’s capacity and capability expansion over the next five years.
The decision to invest underscores our belief in the long-term potential of Kenya’s economy.
President Ruto applauded the commitment, saying:
“This is a milestone in the firm’s presence in Kenya and Africa, a testimony that we must sustain our strong collaboration for us to grow.”
Ruto praised the company’s continental activities, particularly the Replenish Africa Initiative (RAIN), which aims to improve access to water and sanitation for around 6 million people in Africa.
The President stated that the Coca-Cola system has been an active supporter of Kenya’s environmental and humanitarian endeavors.
Trade CS Rebecca Miano said the investment will lead to a positive trickle-down effect in the value chain, translating into job creation and improved micro and macro economies
“This investment, in addition to aligning with our shared goal of green investment, will significantly impact our local community. It will lead to a positive trickle-down effect in the value chain, translating into job creation and improved micro and macro economies. This will foster a brighter future for all, demonstrating our shared commitment to the well-being of the EAC region.” She said.
Miano added that there are greater opportunities and collaborations between the beverage company and Kenya in the future.
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