A new study has shown that the Coca-Cola system contributed $3.6 billion to the combined economies of the Common Market for Eastern and Southern Africa (COMESA) in 2024, supporting about 458,200 jobs in the regional bloc.
Findings from the study were revealed at the 19th COMESA Business Forum in Zimbabwe, where regional stakeholders convened to discuss the bloc’s innovation and economic growth.
Twenty-one nations make up COMESA. They include Burundi, Democratic Republic of Congo, Egypt, Eritrea, Kenya, Libya, Malawi, Rwanda and so on.
The study, supported by the beverage company and conducted by Steward Redqueen, showed how Coca-Cola was instrumental in the development of major sectors such as agriculture, manufacturing, retail, transport, and so on.
President of Coca-Cola’s Africa Operating Unit, Luis Felipe Avellar, said the company patronised sugar manufacturers, packaging companies, thereby contributing billions of dollars to the major industries in the bloc.
“As this study shows, the Coca-Cola system continues to deliver substantial economic impact in COMESA, creating opportunities through local partnerships, investments, and supply chains,” Mr Avellar said.
The Coca-Cola system, through its vast network of bottlers, suppliers, distributors, and retailers contributed billions of dollars accounting for 0.3 per cent of COMESA’s GDP.
“For every direct job created by the Coca-Cola system in COMESA, an additional 28 jobs are supported throughout the regional economy,” Mr Avellar said.
Coca-Cola also touted its Africa Water Stewardship Initiative worth approximately $25 million to address the water needs of COMESA’s member-states.
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