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Coca-Cola to Double its Annual Investment in Africa
The soft drink firm, which is one of the six FIFA World Cup 2010 partners, plans to double its annual investment in Africa to ramp up capacity, William Egbe, the president of Coca-Cola's South African unit said on the sidelines of the Fortune Global Forum.
"Over the past decade we've invested half a billion (U.S. dollars) every year across the continent ... We're doubling our investment," Egbe noted.
Egbe reported that he sees big growth potential in the new and more stabilized country of Zimbabwe, which is recovering from an economic recession after the formation of a unity government last year ended years of hyper-inflation.
Coca-Cola is now looking to diversify its product line and strengthen its non-carbonated beverage businesses, such as juices and water in Africa.
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