HARARE, Zimbabwe (UGNEWSLINE) – The Coca-Cola system contributed $3.6 billion to the combined Gross Domestic Product (GDP) of the Common Market for Eastern and Southern Africa (COMESA) in 2024, while supporting more than 458,200 jobs across the region, a new study has revealed.
The findings were unveiled during the 19th COMESA Business Forum in Harare, Zimbabwe, highlighting the beverage company’s contribution to economic growth, job creation and local industries across the regional trading bloc.
Conducted by global consultancy Steward Redqueen, the study found that Coca-Cola’s contribution represented 0.3% of COMESA’s combined GDP.
The Coca-Cola system comprises the company’s bottlers, suppliers, distributors and retailers, whose activities support employment and business opportunities across various sectors of the economy.
“For every direct job created by the Coca-Cola system in COMESA, an additional 28 jobs are supported throughout the regional economy,” said Luis Felipe Avellar, president of Coca-Cola’s Africa Operating Unit.
Avellar said the findings demonstrate how local partnerships, investments and supply chains contribute to economic development across the region.
The study further revealed that the Coca-Cola system spent nearly $1.5 billion on suppliers across COMESA in 2024, benefiting industries such as sugar production, manufacturing, packaging and logistics.
Alfred Olajide, vice president of East and Central Africa Operations at Coca-Cola, said the company’s operations support local suppliers, retailers and distributors while promoting innovation and sustainable development.
“The Coca-Cola system operates as a critical economic engine across the COMESA region, empowering local suppliers, retailers, and distributors to thrive,” Olajide said.
He added that the business forum provided an opportunity to highlight the company’s contribution beyond beverage production through partnerships and economic development initiatives.
The 19th COMESA Business Forum brought together leaders and stakeholders from across the region to discuss trade, innovation and economic growth. Coca-Cola’s participation reflects its engagement with efforts to strengthen economic ties among COMESA’s 21 member states.
Beyond its economic contribution, the Coca-Cola system is also supporting sustainability and community development initiatives, including water stewardship programmes.
Several COMESA member states benefit from the company’s Africa Water Stewardship Initiative, a programme worth nearly $25 million that aims to address water-related challenges across 20 African countries by 2030.
According to the study, researchers used a Multi-Regional Input-Output (MRIO) model to assess the Coca-Cola system’s economic impact through its operations, local procurement and wider supply chains.
The approach captured the indirect economic benefits generated across sectors, from agriculture and manufacturing to distribution and retail, illustrating how the company’s activities contribute to regional economies.
Avellar said collaboration between businesses and regional institutions remains important in promoting inclusive and sustainable economic growth.
“The 19th COMESA Business Forum reaffirms the importance of collaboration in achieving sustainable and inclusive economic growth. We are proud to collaborate with COMESA in building stronger economies and better futures for the communities we serve,” he said.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Its portfolio includes sparkling soft drinks such as Coca-Cola, Sprite and Fanta, as well as water, sports drinks, coffee, tea, juice, dairy and plant-based beverages.
The company says it continues to invest in product innovation, reduced-sugar options, water replenishment, packaging recycling, sustainable sourcing and carbon emissions reduction across its value chain.
Together with its bottling partners, Coca-Cola employs more than 700,000 people worldwide, supporting economic opportunities in local communities.
