Coca-Cola announced a significant investment of Sh23 billion ($175 million) in Kenya over the next five years.
This strategic move follows a meeting between President Ruto and Coca-Cola executives in Atlanta.
I welcome @CocaCola’s substantial investment to expand its operations in Kenya.
This undertaking underscores the company’s enduring commitment to the growth and development of our region. I am excited about the promising future and the myriad possibilities that lie ahead!… pic.twitter.com/txfUNCd61L— CS Rebecca Miano, EGH (@rebecca_miano) May 22, 2024
“This investment is aimed at accelerating the Coca-Cola system’s capacity and capability expansion over the next five years. Our decision to invest underscores our belief in the long-term potential of Kenya’s economy,” Sunil Gupta, CEO of Coca-Cola Beverages Africa said.
President Ruto hailed the agreement as a major boost for the Kenyan economy. “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.” ” he stated on social media.
Kenya welcomes Coca-Cola’s announcement to invest Sh23 billion ($175 million) over the next five years to expand its operations in the country. This is a milestone in the firm’s presence in Kenya and Africa, a testimony that we must sustain our strong collaboration for us grow.… pic.twitter.com/OlcaF9NzeS
— William Samoei Ruto, PhD (@WilliamsRuto) May 21, 2024
The investment aligns with Coca-Cola’s plan to expand in emerging markets and promote sustainable development. It signifies their commitment to Kenya’s continued growth and prosperity.
“We are optimistic and fully committed to Kenya’s future. We foresee great social and economic advancement, and this is why we continue to invest in our Kenyan business as well as the community programs that help strengthen Kenya’s prosperity,” Luisa Ortega, President of The Coca-Cola Company’s Africa Operating Unit said.
During the 4th American Chamber of Commerce (AmCham) business summit, Ortega said the collaboration would be beneficial for both U.S. and East African businesses.
“We are a global company, operating as a local business. This means we have a major local economic and employment multiplier effect in the communities we serve. When a consumer buys one of our beverages, it was likely made by local employees in a local manufacturing facility using ingredients and packaging sourced locally, and distributed by a local retailer,” she said.
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