Coca-Cola Nigeria will invest $600 million by 2020 to boost sales, in line with a global strategy to extend the product range beyond its soft drinks.

The unit of the Atlanta-based beverage maker plans to expand its offering of drinks to include flavored and condensed milk, iced tea and bottled water to meet demand in Africa’s most populous country.

Its President, West Africa operation, Peter Njonjo spoke in an interview in Lagos, said: “Our objective is to provide whatever beverages you need across your life stages.”

The money is part of a pledge by Coca-Cola to invest $17 billion in Africa by 2020.

Its Global Chief Executive Officer James Quincey has said the company needs to grow beyond its biggest brand and has called for the soda giant to become a “total beverage company,” being less reliant on carbonated soft drinks.

Last year, Coca-Cola bought a 40 per cent stake in Nigerian juice and dairy company Chi Ltd. for $240 million and said at the time it intended to take total control within three years.

Coca-Cola has felt the pinch of an economic slump in Nigeria caused by a decline in output and prices of oil, the nation’s main foreign-exchange earner, and dollar shortages. The economy expanded 0.6 per cent in the three months through June, ending five straight quarters of contractions that saw gross domestic product shrink 1.6 per cent in 2016, the first time since 1991.

High inflation increased production costs, while the price of imported goods rose due to the dollar scarcity, just as consumers had less money to spend, Njonjo, 41, said.

The company, which has 3,600 direct employees, 11 bottling plants and 30 distribution depots across Nigeria, isn’t listed in the West African nation and Njonjo declined to share details on production capacity or earnings.

After peaking at 18.7 per cent in January, the inflation rate fell to 16 per cent in August, while food prices have continued to surge. This is “a big issue,” for Coca-Cola, present in Nigeria since 1951, Njonjo said. “As disposable incomes start getting under pressure, expenditure in products like ours start becoming inaccessible to most consumers,” he said.

In response to the challenges in Nigeria, Coca-Cola increased prices, introduced new product-sizes and sought more inputs locally. To reduce its foreign-exchange exposure, the company plans to raise to 75 per cent the share of raw materials produced in Nigeria by 2020, from 70 percent currently, Njonjo said.

http://investorsking.com/coca-cola-nigeria-okays-600m-expansion/

Awesome!

The unit of the Atlanta-based beverage maker plans to expand its offering of drinks to include flavored and condensed milk, iced tea and bottled water to meet demand in Africa’s most populous country.

@bolded, Eva Water to get siblings?

Coca-Cola has felt the pinch of an economic slump in Nigeria caused by a decline in output and prices of oil, the nation’s main foreign-exchange earner, and dollar shortages. The economy expanded 0.6 per cent in the three months through June, ending five straight quarters of contractions that saw gross domestic product shrink 1.6 per cent in 2016, the first time since 1991.

U wanna kill all

Cool

My Father! My Father!! pls remember me for greatness this morning... let me also be able to call sums like this Amen. What about u?

Mttcheeew....Ooni of Jedi Jedi

[url]thenewbits.com[/url]

Nice one....$600 to add more sugar to whatwe have been drinking

The unit of the Atlanta-based beverage maker plans to expand its offering of drinks to include flavored and condensed milk, iced tea and bottled water to meet demand in Africa’s most populous country.

@Bolded, don't go there, We are OKAY with FARO & EVA

Kkk...stingy company and their greedy stuffs....their workers r less paid

technically more diabetes

Big Nigerian money

Coca cola brand, Unilever, PZ and so many other foreign brands have been there for over a century and is still waxing strong pumping out billions of naira for the family owners of such brands.

Just pause and imagine if this brands were nigerian owned, family squabbles (e.g psquare, mohits, plantasion boys) would have led to the death of such brands. Tribalism and nepotism would have taken over where only people who know someone who knows the real owners can get access to working there whether they are professionals or not. Government would have found a way to kill the brand because they no find them small egunje in form of pocket money, or simply because they are not sitting as a member of the board of directors.
Finally if na for naija, we never sabi to transfer business from one generation to the other, immediately the owner of the business dies, like juju the business dies with him,eg, ekene diri chukwu motors.

Chai what am even saying self.

Na the prof dey here so.

Dutchey:
My Father! My Father!! pls remember me for greatness this morning... let me also be able to call sums like this Amen. What about u?

Get your ass up and start working for it. Praying all day won't make it happen. YOU make it happen.

Coca-Cola bought a 40% stake in Chi? Pls don't bring your 5 alive flavour to our beloved Chivita o

lacasera and maltina are enough for me

I couldn't remember that last time I took coca cola product.

Which kind yeye expansion? When their recent coke tastes like saccharin water. Big cola or Pepsi will kukuma collect the market share from them. They better plan to be bottling agbo jedi if they still want to retain any spot in the heart of Nigerians.

pigs and idiots will not be happy about this happening in the country they hatefully called Zoo...




anyway the albino is on the run...

coke is different from what it was years ago


i have avoided it


more sugar

I don't Like coca cola product. Can u people produce good wine or spirit for us. We don't need those sugar in our system.

to GOD be d glory

These guys should give back to the community....

please what is coca cola

Good

No wonder that secret recruitment happened in their Ilorin and Ibadan zones recently. All about expansion which is pretty nice, means more jobs.

After dey have succeeded in forcing ppl to buy 35cl coke instead of d 50cl for months and diluting Lacasera with too much water and coke with too much sugar

Invest more. Make more gain

Dem wan load us with jedi jedi...good one tho..cos jobs would be created.

agbo jedi jedi (oroki, yoyo bitters and iya elewe omo) and diabetes investors would be needed.

9japrof:
Coca cola brand, Unilever, PZ and so many other foreign brands have been there for over a century and is still waxing strong pumping out billions of naira for the family owners of such brands.

Just pause and imagine if this brands were nigerian owned, family squabbles (e.g psquare, mohits, plantasion boys) would have led to the death of such brands. Tribalism and nepotism would have taken over where only people who know someone who knows the real owners can get access to working there whether they are professionals or not. Government would have found a way to kill the brand because they no find them small egunje in form of pocket money, or simply because they are not sitting as a member of the board of directors.
Finally if na for naija, we never sabi to transfer business from one generation to the other, immediately the owner of the business dies, like juju the business dies with him,eg, ekene diri chukwu motors.

Chai what am even saying self.

Na the prof dey here so.

What of Dangote, globacom and a lot more?