AFRICA: Coke Sabco granted opportunity for African expansion
The Kenyan finance Minister Chris Okemo has granted competition approval for Coca Cola Sabco, of South Africa, to increase its dominance of the east African country's soft drinks market.
Sabco is now likely to try and increase its stake in Nairobi Bottlers, which has 52% of the market, and acquire opposition East African Bottlers, which has a market share of roughly 2%.
Sabco already owns 72% of Nairobi Bottlers and could face some stiff opposition from the Kenyan state owned Industrial and Commercial Development Corporation, which holds the remaining 28%.
The ICDC has said it wants to dilute SABCO dominance by increasing its stake to 45 per cent, but reports say the government's decision signals a lack of support for these aims.
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