New study highlights support for over 458,200 direct and indirect jobs across the region in 2024.
The Coca-Cola system contributed USD 3.6 billion in value-added economic activity across the COMESA region in 2024, according to results from a new study unveiled during the 19th COMESA Business Forum. The study, conducted by global consultancy Steward Redqueen, also indicated that the Coca-Cola system and its value chain supported over 458,200 direct and indirect jobs across the region in sectors including agriculture, manufacturing, retail, transport, and services.
The study showcased the Coca-Cola system’s role in fostering economic progress, creating employment, and supporting local industries within COMESA’s 21 member countries. Luis Felipe Avellar, President of Coca-Cola’s Africa Operating Unit, stated, “As this study shows, the Coca-Cola system continues to deliver substantial economic impact in COMESA, creating opportunities through local partnerships, investments, and supply chains.”
The system’s contribution represented 0.3% of COMESA’s combined GDP in 2024. The study further revealed a significant employment multiplier, with Avellar noting, “For every direct job created by the Coca-Cola system in COMESA, an additional 28 jobs are supported throughout the regional economy.”
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In addition to job creation, the Coca-Cola system spent almost USD 1.5 billion on goods and services from suppliers across the COMESA region in 2024. This expenditure benefited local industries such as sugar production, manufacturing, packaging, and logistics. Alfred Olajide, Vice President of East and Central Africa Operations at Coca-Cola, commented, “The Coca-Cola system operates as a critical economic engine across the COMESA region, empowering local suppliers, retailers, and distributors to thrive.”
Beyond its economic impact, the Coca-Cola system is also involved in sustainability and community development initiatives. Several COMESA member states benefit from the Coca-Cola system’s Africa Water Stewardship Initiative, a nearly USD 25 million program designed to address water-related challenges across 20 African countries by 2030.
The study leveraged a Multi-Regional Input-Output (MRIO) model to capture the Coca-Cola system’s impact across its operations, local procurement, and extensive value chain linkages. Avellar concluded, “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.”
