Monday , September 26 2022
Coca-Cola Invest £1 Billion in Nigeria Business Operation in 10 Years - CEO

Coca-Cola Invest £1 Billion in Nigeria Business Operation in 10 Years – CEO

…Donates €1 Million To Support Local Communities In  Nigeria

Coca-Cola HBC, the parent company of the Nigerian Bottling Company (NBC) Ltd, has disclosed that in the last 10 years, the company have invested well over a billion Euros in its Nigeria operations.

This disclosure was made by Zoran Bogdanovic, CEO of Coca-Cola HBC, at a Stakeholder reception during his visit to Lagos, Nigeria.

According the investment has supported the expansion of production capacity, the building of modern warehouses, investment in eco-friendly logistics and above all, the creation of jobs for young Nigerians across the value chain.

Speaking about the company’s legacy of over 70 years in Nigeria, Zoran Bogdanovic, said, “Our roots are in Nigeria and its spirit still runs right through our business today – that’s why we have been a proud contributor to the growth of the Nigerian Economy throughout our history.

Read More: Lagos State Employment Trust Fund, Coca Cola empowers 300 women

Today, we, along with The Coca-Cola company, support over 58,000 jobs annually in the value chain in the country.”

More so, he announced a €1 million donation to support community empowerment and social impact programmes in Nigeria.

Remarking on the donation, Bogdanovic said: “This donation underlines our commitment to improving the lives of our communities. Through this support, among other ongoing sustainability initiatives, we hope to help drive growth for the Nigerian economy and enable better living conditions for local communities.

The donation will be directed towards empowering youth and women and the provision of water and sanitary facilities.”

The €1 million funds will be deployed to support four key initiatives including the Federal Government of Nigeria’s journey towards becoming Open Defecation Free (ODF) by 2025; upskilling underserved youths and women in high-demand skills; and community recycling initiatives.

The partners for the fund have been selected based on a rigorous due diligence process and their track record, as well as their ability to deliver value and make an impact in the communities. The remaining three partners will be announced soon.

Over the last 10 years, the Coca-Cola System has invested more than 9 billion naira in lifting the living standards of communities in Nigeria, through locally-relevant initiatives.

In addition, the company has scaled its gender diversity and inclusion targets, youth and women empowerment, water stewardship and its broader agenda for a World Without Waste.

About Bukola Olanrewaju

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