Breaking News

Wait for it: Coca-cola set to Introduce Bottled Water, Flavored Milk and Iced Tea in Nigeria

International beverage company Coca-Cola, in a bid to expand its customer base, said it plans to invest $600 million in Nigeria in the next few years.

This was revealed by Peter Njonjo, President West Africa operations. Coca-cola also plans to increase the proportion of raw materials sourced from Nigeria to 75% by 2020.

Coca-cola said it plans to expand its offering of drinks to include flavored and condensed milk, iced tea and bottled water to meet demand in the country.

Coca Cola also plans to take full control of Chi Limited in the next 3 years, having bought a 40% stake in the company for $240 million last year.

The investments are part of a larger strategy, by the Coca-Cola company to invest $20 billion in Africa.

No comments