COMESA economy gains $3.6 billion from private sector activities
DAR ES SALAAM: THE Coca-Cola system contributed $3.6 billion to the combined Gross Domestic Product (GDP) of the Common Market for Eastern and Southern Africa (COMESA) in 2024, supporting more than 458,200 jobs across the region.
The findings were released during the 19th COMESA Business Forum in Dar es Salaam, highlighting the contribution of private sector businesses to regional economic growth, employment creation and the development of local industries.
A study conducted by global consultancy Steward Redqueen found that the contribution from Coca-Cola and its network of bottlers, suppliers, distributors and retailers accounted for 0.3 per cent of COMESA’s combined GDP.
The report further established that for every direct job created by the Coca-Cola system, an additional 28 jobs were supported across the wider regional economy, demonstrating the role of supply chains and related businesses in generating employment.
Coca-Cola Africa Operating Unit President Luis Felipe Avellar said the findings reflected the importance of local partnerships, investment and supply chains in supporting economic development.
He said the COMESA Business Forum provided an opportunity for businesses to demonstrate how their operations could contribute to stronger regional economies.
The study also revealed that Coca-Cola spent nearly $1.5 billion on suppliers across the COMESA region in 2024, benefiting sectors such as sugar production, manufacturing, packaging and logistics.
Coca-Cola Vice President for East and Central Africa Operations Alfred Olajide said the company’s activities extended beyond beverage production to include partnerships with local suppliers, retailers and distributors.
The report also highlighted the company’s involvement in environmental initiatives, including the Africa Water Stewardship Initiative, a programme valued at nearly $25 million that seeks to address water-related challenges in 20 African countries by 2030.
The economic assessment employed a Multi-Regional Input-Output (MRIO) model to measure the effects of Coca-Cola’s operations, local procurement and value chain activities across different sectors.
The 19th COMESA Business Forum brought together regional stakeholders to discuss trade, innovation and economic growth among the organisation’s 21 member states, with emphasis on strengthening regional integration and promoting sustainable economic development.
