Business Reporter
The Coca-Cola system contributed $3.6 billion in value-added economic activity across the COMESA region in 2024, representing 0.3 percent of the bloc’s GDP, according to a new independent socio-economic impact study released at the 19th COMESA Business Forum.
The study, conducted by Steward Redqueen, also found that more than 458 200 jobs were supported throughout the company’s value chain, spanning agriculture, trade, manufacturing, transportation and services.
“To put this in perspective, for every direct job created by the Coca-Cola system, 28 additional jobs were supported across the broader economy,” Mr Alfred Olajide, Vice President for East and Central Africa at The Coca-Cola Company told delegates at the Harare International Conference Centre.
He said the system spent $1.5 billion on goods and services from suppliers in COMESA markets, strengthening local industries such as sugar production, packaging, logistics and marketing. “These figures reflect the Coca-Cola system’s deep integration within the economies of COMESA and the ripple effects of our operations throughout the entire region,” he said.
Beyond economic impact, Mr Olajide highlighted the company’s water stewardship initiative — a $25 million multi-year commitment to improve water access and address water-related challenges across 20 African nations, including several in the COMESA region. “Through sustainability initiatives like this, the Coca-Cola system is helping to ensure that the resources we rely on today remain secure for future generations, thereby benefiting both businesses and communities,” he said.
He described COMESA as a model of regional collaboration. “COMESA has long stood as a shining example of what regional collaboration and trade facilitation can achieve. This region represents resilience, opportunity and growth — the very qualities that have made it a strategic market for the Coca-Cola system,” he said. “More than just a market, COMESA is a partner for shared prosperity.”
Mr Olajide reaffirmed the company’s commitment to being a key driver of economic inclusion, sustainable development and regional integration. “Our relationships with suppliers, distributors and retailers all stand as a testament to the power of collaborating in driving this inclusive growth,” he said.
In closing, he expressed gratitude to the COMESA Secretariat for hosting the platform and to governments across the region for their continued collaboration. “The Coca-Cola system story in COMESA is one of opportunity — opportunity created, shared and sustained,” he said. “As we look into the future, I am confident that together we can seize this moment to build stronger economies, foster deeper relationships and deliver lasting value to the millions of people we collectively serve across this region.”
