The Coca-Cola System in Nigeria, comprised of Coca-Cola Nigeria Limited and its authorized bottler, Nigeria Bottling Company (NBC), announced plans to expand its investments in Nigeria.
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Over the next five years, with a predictable and enabling environment in place, the System plans to accelerate its investments in Nigeria to reach US$ 1 billion.
The investment builds on the System’s long-standing involvement in Nigerian communities. Over the last 10 years, Coca-Cola Hellenic Bottling Company, known locally as Nigerian Bottling Company, has invested $1.5 billion in Nigeria.
With this announcement, the Coca-Cola System plans to more than double its rate of investment over the next 5 years.
The investment is expected to support various value chain areas, including suppliers, distributors, retailers, and recyclers.
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: 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.
Following the meeting, Murphy indicated that “the investment highlights our system's efforts to drive scalable initiatives while also preserving the value of local relevance. 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.” ■
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