Coca-Cola Beverages Africa Acquires Majority Stake In Eswatini Beverages
Coca-Cola Beverages Africa (CCBA) has made known that it has acquired a 60 percent share in the soft drinks business of Eswatini Beverages Limited.
Following the deal, Eswatini Beverages will now operate as a subsidiary of CCBA and will be known as Eswatini Coca-Cola Beverages (ECCB).
The remaining 40 percent interest in the company is owned by Tibiyo TakaNgwane, a Swazi sovereign wealth fund.
Speaking during the launch of the new beverage company, the managing director of Tibiyo Taka Ngwane, Dr. Absalom Themba Dlamini appreciated the food and beverage giant for its investment in Eswatini further noting, “it is encouraging to see huge companies such as Coca Cola investing in countries within the SADC region and the continent.”
Country manager of ECCB, Sanele Khumalo mentioned that ECCB has appointed Logico Unlimited as the official distributor of all Coca-Cola products in Eswatini.
Khumalo said every attempt will be made to reduce any disruption to customers.
“Eswatini customers will benefit from being part of a consolidated, successful Coca-Cola ecosystem that spans the continent, creating new opportunities for everyone across the value chain,” she said adding that “Access to shared best practices will enhance efficiencies and a better distribution capability will provide pervasive availability of cold beverages to end-customers.”
Founded in 2016, CCBA is the eighth largest Coca-Cola bottling partner in the world by revenue and the largest on the continent. The company’s African footprint now encompasses South Africa, Ghana, Ethiopia, Uganda, Kenya, Tanzania, Namibia, Mozambique.
Featured Image Courtesy: Financial Times
