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Coca-Cola: South Africa is real thing for investment |
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News |
May 17, 2000
PRETORIA, MAY 16 (AP) - Coca-Cola has decided South Africa is the real thing for investment, with the company's chairman announcing on Tuesday a 1.4 billion rand (dlrs 200 million) package.
"We are very optimistic about this country's future and the economic development of African nations," Coca-Cola's chairman Douglas Daft told reporters after meeting with South African President Thabo Mbeki.
Daft said the investment in South Africa formed part of 7 billion rands (dlrs 1 billion) the company intended putting into Africa over the next three years.
The investment in South Africa would be used to build bottling and canning plants, production lines, and to launch new soft-drink brands.
"We believe this will significantly increase local economic value, local revenues, local jobs and other local opportunities," Daft said.
South Africa is Coca Cola's eighth-largest market among the 200 countries the company was operating in. |