Speaking during the World Economic Forum (WEF) on Africa conference, in South Africa, president South and East Africa business unit, Bruno Pietracci said that the local market still held great potential for the group, reports Business Live.
The company plans to use the US$1bn investment on the introduction of new products, expansion of its capacity and distribution network, innovations and to support the group’s brands.
As a region, the group was growing in single digits, generally in terms of volumes and profit, but there were some countries where the group was growing in double digits. However in some countries, such as Zimbabwe, the growth was very low.
Pietracci called for renewed co-operation between the public and private sectors in the region, which he believed would be essential for African countries to grow in the future.
He said the 4th industrial revolution would enable a group like Coca-Cola and its bottlers and franchises to use more sophisticated processes to provide more solutions for consumers and customers.
Pietracci also cited the public-private sector partnership as a major step by the government to reduce sugar intake for health reasons, a trend that was likely to continue.