SHAREHOLDING CHANCE AT COCA-COLA AFRICA

MBABANE - Africa’s biggest fizzy drinks bottling company Coca-Cola Beverages Africa (CCBA) is said to be considering plans to list on the Johannesburg Stock Exchange (JSE) within the next 18 months.

In a recent announcement, the company said this decision was in line with the company’s objective of focusing its resources on building consumer-loved brands and innovation. CCBA’s African footprint stretches across South Africa, Ghana, Ethiopia, Uganda, Kenya, Tanzania, Namibia, Mozambique, Comoros, Mayotte, Zambia, Botswana, Lesotho and here in Eswatini. In 2019, Coca-Cola Beverages Africa (CCBA) announced that it had acquired a 60 per cent share in the soft drinks business of Eswatini Beverages Limited. The deal was signed on October 5, 2018, and all the necessary regulatory approvals were obtained. The remaining 40 per cent of ECCB is owned by Tibiyo Taka Ngwane.

Shareholders

Listing on the JSE would mean the company would be publicly-owned, leaving its current shareholders, The Coca-Cola Company (66.5 per cent) and Gutsche Family Investments (33.5 per cent), losing absolute control.
It is not clear how much shareholding would be offered to the public yet. The company said shares would also be listed in Amsterdam Stock Exchange, as the primary listing exchange. “The initial public offer will allow CCBA to operate as an independent, Africa-focused, South African-headquartered, managed and domiciled business. The plans underscore The Coca-Cola Company’s continued and long-term belief and commitment to the African continent and the leadership of CCBA from South Africa,” reads the announcement. The Coca-Cola Company as the ultimate parent company is listed on the New York Stock exchange. Coca-Cola sells products in more than 200 countries and territories.

CCBA, which is to be listed, is the eighth largest Coca-Cola bottling partner in the world by revenue, and the largest on the African continent. It accounts for 40 per cent of all Coca-Cola products sold in Africa by volume, and has over 16 000 employees in Africa. Bruno Pietracci, the president of The Coca-Cola Company’s African operating unit, was quoted saying the company was seeing Africa as a key growth market and viewed a separate listing of CCBA as an opportunity to deliver a broad, supportive, long-term investor base for the ongoing development of the business.

Post your comment

Your name:

Your e-mail address:

Add your comments:

Please enter the code you see in the image:

Image:

Code: