The Coca-Cola system contributed US$3.6 billion to the combined gross domestic product (GDP) of the Common Market for Eastern and Southern Africa (COMESA) in 2024 while supporting more than 458 200 jobs, according to a new study released at the bloc’s 19th Business Forum.
The study, conducted by global consultancy Steward Redqueen highlights the beverage company’s economic footprint across the regional trading bloc including its contributions to employment, local industries and supply chains.
The findings show that Coca-Cola’s contribution represented about 0.3% of COMESA’s combined GDP underlining the role of private-sector investment in regional economic development.
“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,” said Luis Felipe Avellar, president of Coca-Cola’s Africa Operating Unit.
He said the business forum provided an opportunity to demonstrate how companies could contribute to sustainable economic development across Africa.
The 19th COMESA Business Forum brought together regional leaders and business representatives to discuss trade, innovation and economic growth among the bloc’s 21 member states.
According to the study, Coca-Cola’s economic impact extends beyond its direct operations through a network of bottlers, suppliers, distributors and retailers.
For every direct job created by the Coca-Cola system in the region an additional 28 jobs are supported across the wider economy, Avellar said.
The report also found that the company spent nearly US$1.5 billion on suppliers across COMESA in 2024 benefiting industries including agriculture, sugar production, manufacturing, packaging and logistics.
Alfred Olajide, Coca-Cola’s vice-president for East and Central Africa Operations, said the company’s extensive local supply chains helped businesses and communities participate in economic activity.
“The Coca-Cola system operates as a critical economic engine across the COMESA region, empowering local suppliers, retailers and distributors to thrive,” he said.
Olajide added that the forum offered an opportunity to highlight the company’s commitment to innovation, collaboration and sustainable development.
Beyond its economic contribution, Coca-Cola is also supporting water stewardship initiatives across the continent.
The company’s Africa Water Stewardship Initiative is a nearly US$25 million programme aimed at addressing water-related challenges in 20 African countries by 2030.
Several COMESA member states are among those benefiting from the initiative.
The study used a Multi-Regional Input-Output model to assess the economic effects of Coca-Cola’s operations, procurement and wider value chain, tracking how spending and employment generate activity across different industries.
The findings illustrate how large businesses can influence economic activity beyond their immediate operations, although the scale of the benefits depends on the strength of local supply chains and the extent to which spending remains within regional economies.
Avellar said partnerships between businesses and regional institutions were important for achieving inclusive growth.
“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,” he said.
The report adds to ongoing discussions about the role of private investment in strengthening regional trade, creating jobs and supporting local industries across Eastern and Southern Africa.