iAfrica

Be Smart About South Africa

East African Countries have become the Investment Haven in Africa

With the giants of Africa, Nigeria and South Africa, faced with a crisis at home, East African countries are increasingly becoming a suitable alternative for foreign investors and large consumer companies. Both of Africa’s largest economies have experienced growth at below 2%, hit hard by fall in global commodity prices in 2016. While East African countries’ led by Ethiopia, Kenya, Tanzania and Rwanda have been enjoying growth rates not less than 5% since then. Coca-Cola Beverages Africa (CCBA), the continent’s largest soft drinks bottler, recently announced it would invest $100 million in Kenya over the next five years to improve infrastructure and launch new products. Earlier in May, the company had also launched a $69 million new juice line at its Nairobi plant, one of its four bottling plants in Kenya. The South-African based company made its strategic move into Kenya, and the East African market when it bought Equator Bottlers, the third largest Coca-Cola bottler in Kenya in 2017.

SOURCE: AFRICA.COM

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