The Coca-Cola System, comprised of Coca-Cola Nigeria Limited and its authorised bottler, Nigeria Bottling Company (NBC), has announced plans to expand its investments in Nigeria.
Over the next five years, the System plans to accelerate its investments in Nigeria to the value of $ 1 billion (€898 million).
The investment aims to support various value chain sectors, including suppliers, distributors, retailers, and recyclers.
'Local Relevance'
"The investment highlights our system's efforts to drive scalable initiatives while also preserving the value of local relevance," commented John Murphy, president and chief financial officer of The Coca-Cola Company.
"Coca-Cola has been an integral part of the African continent for over 96 years and today’s investment in Nigeria reiterates our optimism about the continent.”
Nigerian Bottling Company
Over the last 10 years, Coca-Cola Hellenic Bottling Company, known locally as Nigerian Bottling Company, has invested $1.5 billion (€1.3 billion) in Nigeria.
The Coca-Cola System now plans to more than double its rate of investment over the next five years.
Special Delegation
The announcement was made at the State House in Nigeria, where a Coca-Cola System delegation was hosted by President Bola Ahmed Tinubu.
In addition to the Coca-Cola System leadership team in Nigeria, the delegation was comprised of international Coca-Cola System representatives including John Murphy (president and chief financial officer of The Coca-Cola Company), Zoran Bogdanovic (chief executive officer of Coca-Cola Hellenic Bottling Company), Henrique Braun (EVP and president, international development of the Coca-Cola Company, Luisa Ortega (president of Coca-Cola's Africa Operating Unit) and Naya Kalogeraki (chief operating officer of Coca-Cola Hellenic Bottling Company).
'Firm Belief'
"We are business-friendly, and as I said at my inauguration, we must create an environment of easy-in and easy-out for businesses," said President Tinubu.
"We are building a financial system where you can invest, re-invest, and repatriate all your dividends. I have a firm belief in that."
