Harare, – The Africa division of the Coca-Cola beverages conglomerate contributed US$3.6 billion to the combined Gross Domestic Product (GDP) of the Common Market for Eastern and Southern Africa (COMESA) region in 2024, and supported more than 458 200 jobs, a study unveiled at the 19th COMESA Business Forum in Harare, shows.
Conducted by global consultancy Steward Redqueen, the study highlights Coca-Cola’s contribution to economic growth, employment creation and the development of local industries through its operations, partnerships and extensive supply chain network across the region.
Luis Felipe Avellar, President of Coca-Cola’s Africa Operating Unit, said the company’s operations continue to generate significant economic value across COMESA by creating opportunities through local partnerships, investments and supply chains.
“This COMESA Business Forum is an important platform to showcase how businesses like those that comprise the Coca-Cola system contribute to sustainable economic development in Africa,” he said.
The forum brought together business leaders, policymakers and other stakeholders from across the region to explore opportunities for trade, innovation and economic growth. Coca-Cola’s participation underscores its commitment to strengthening regional economic ties and supporting integration among COMESA’s 21 member states.
According to the study, the Coca-Cola system, which includes bottlers, suppliers, distributors and retailers, contributed US$3.6 billion to the region’s combined GDP in 2024, equivalent to 0.3 per cent of COMESA’s GDP. Its operations and wider value chain also supported more than 458 200 jobs across the region.
“For every direct job created by the Coca-Cola system in COMESA, an additional 28 jobs are supported throughout the regional economy,” Avellar said.
The report also highlights the company’s contribution to local industries through procurement and business partnerships. In 2024, the Coca-Cola system spent nearly US$1.5 billion on suppliers across COMESA, supporting sectors such as sugar production, manufacturing, packaging and logistics.
Alfred Olajide, Coca-Cola’s Vice President for East and Central Africa Operations, said the company plays an important role in strengthening local economies by creating opportunities for suppliers, retailers and distributors.
“This forum provides a meaningful opportunity to underscore our commitment not just to delivering beverages, but also driving innovation, collaborations, and sustainable development in the region,” he said.
Beyond its economic contribution, the Coca-Cola system continues to support sustainability and community development initiatives across Africa. Several COMESA member states stand to benefit from the company’s Africa Water Stewardship Initiative, a programme valued at nearly US$25 million that aims to address water-related challenges in 20 African countries by 2030.
The study used a Multi-Regional Input-Output (MRIO) model to assess the Coca-Cola system’s economic footprint across its operations, local procurement and interconnected value chains. This approach captures both direct contributions and the wider economic activity generated through its network of suppliers, distributors, retailers and other business partners.
The findings illustrate how the Coca-Cola system’s activities generate economic benefits across multiple sectors, from agriculture and manufacturing to transportation and retail, highlighting its role in supporting regional economic development and strengthening local value chains.
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