JOHANNESBURG, April 1 (Reuters) - Coca-Cola and its two authorized bottlers, Coca-Cola Beverages South Africa and Coca-Cola Peninsula Beverages, will invest 17.6 billion rand ($1.05 billion) in South
Coca-Cola Announces $1 Billion Investment in South Africa Through 2030
Major Investment to Boost South African Economy
Details of the Investment
JOHANNESBURG, April 1 (Reuters) - Coca-Cola and its two authorized bottlers, Coca-Cola Beverages South Africa and Coca-Cola Peninsula Beverages, will invest 17.6 billion rand ($1.05 billion) in South Africa through 2030, to support expanded production capacity, the company said.
Announcement at Johannesburg Conference
The announcement was made by Luis Felipe Avellar, president of the Coca-Cola Company's Africa operating unit, on Tuesday evening at an investment conference in Johannesburg, where President Cyril Ramaphosa set a target of attracting 2 trillion rand in new investments over the next five years.
Objectives of the Investment
The investment will support expanded production capacity, strengthen distribution and accelerate innovation across the "Coca-Cola system's" value chain, Coca-Cola Africa said in a statement.
Exchange Rate and Reporting Information
($1 = 16.7809 rand)
(Reporting by Nqobile DludlaEditing by Tomasz Janowski)
