Africa could be the “story of the next decade” for The Coca-Cola Co

Africa could be the “story of the next decade” for The Coca-Cola Co

Africa could be the "story of the next decade" for The Coca-Cola Co, according to CEO Muhtar Kent.

Speaking to US news channel CNBC yesterday (23 September), Kent said the firm has invested US$6bn in the continent over the last ten years and intends to invest a further $12bn in the coming decade.

"Africa has the youngest, dynamic consumers in the world, it's a fantastic continent with great, tremendous richness," Kent told CNBC. "I do think that Africa could be a very, very vibrant story of the next decade."

However, Kent added that while he is see seeing improvement in Africa, it is "not fast enough".

"What is needed in Africa is bigger governance," Kent told CNBC. "It is improving, though, and wherever we see those improvements in the economy and the general communities in those nations in Africa, they are doing much much better. I think all, North West Africa, East Africa, South Africa, they all have great potential."

Africa currently contributes about 6% to 7% of Coca-Cola's total revenues and, in its first quarter results in April, the firm saw volumes grow 11% on the continent.