Global beverage company Coca-Cola has announced its intention to grow its investment in Kenya by up to Sh23 billion ($175 million) over the next five years, should the business achieve its anticipated growth targets in the country.
Hosting the Kenyan President Dr William Ruto at The Coca-Cola Company headquarters in Atlanta, Sunil Gupta, CEO of Coca-Cola Beverages Africa said:
“The Coca-Cola system has been an integral part of Kenya’s landscape for more than 75 years. Today, we are excited to announce our intention to strengthen this legacy through a substantial investment.
“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."
President Ruto welcomed the commitment saying:
"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."
Ruto lauded the company's continental initiatives, especially the Replenish Africa Initiative (RAIN), which he said is dedicated to improving access to water and sanitation for about 6 million people across Africa.
The President said the Coca-Cola system has been a strong supporter of Kenya's environmental and humanitarian efforts.
He pointed out the Sh211 million grant the company gave the Upper Tana-Nairobi Water Fund to enhance water and soil conservation in 2020.
Ruto also acknowledged the $500,000 Coca-Cola contributed to drought mitigation efforts in Kenya in 2022.
He added that amid the COVID-19 pandemic, in partnership with Amref Health Africa, it supported PPE manufacturing, empowering young women to produce affordable masks and surgical gowns distributed nationwide.
"Coca-Cola has been a prominent corporate presence in Kenya and Africa, growing as a brand and manufacturing giant while serving as a partner in employment creation, economic development, and emergency response. Our partnership has allowed us to grow together," he said.
"Today, we must sustain our engagement and collaboration to enable us face the challenges and seize opportunities of the future, together as partners."
Luisa Ortega, President of The Coca-Cola Company’s Africa Operating Unit, emphasized the importance of collaboration with the government to create a stable policy environment.
"The Coca-Cola system has been part of communities in Kenya for more than seven decades. We are excited to continue growing our business and supporting communities across Kenya for many years to come," said Ortega.
The Coca-Cola company is a major employer in East Africa where it has directly employed 10,000 people.
The Coca-Cola system also works with over 500,000 Micro, Small and Medium Enterprises across the region, giving the company a direct connection to the experiences shared by many businesses in Kenya and across the East African region.
“Our value chain supports livelihoods for over a million people in distribution, sales and other roles,” said Gupta.
"We source close to 8,000 metric tons of mango puree from East African farmers. We believe in the region's potential and its ability to achieve significant growth through collaboration between public and private sectors. Our business in Kenya is centred on a local approach - we hire locally, produce locally, distribute locally and source locally.”
“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,” Ortega conclude