The slow global economy and the health-driven turn against sweet sodas dented Coca-Cola sales for the sixth straight quarter, delivering a 28 percent hit to net income, the company reported October 26, 2016. Coca-Cola said worldwide revenues fell in the quarter to September 30 by 7.0 percent from a year ago to $10.6 billion, with sharp declines in its Latin America and Europe-Africa-Middle East regions.
/ AFP PHOTO / Karen BLEIER
• Uplifts Living Standards Of Communities With N9b
As part of its commitment to Nigeria, while celebrating its 70th anniversary, the Coca-Cola System in Nigeria – Nigerian Bottling Company (NBC) Ltd and Coca-Cola Nigeria Ltd, has pledged to invest N560b in the next five years.
The Managing Director of NBC, Mathieu Seguin said: “As we continue to grow, we have been very deliberate about investing heavily to make a positive impact in the lives of people in communities where we operate. We believe that our business is only as sustainable as the communities in which we do business, and this is why we have mainstreamed sustainability into every aspect of our business.
“In the last 10 years alone, the Coke System has invested more than N9b in lifting the living standards of communities where we do business, through relevant initiatives. Some of the areas we have had the most impact have been in education, youth development, women empowerment, water, environmental sustainability, sports and the promotion of commerce and entrepreneurship.”
On his part, the Managing Director of Coca-Cola Nigeria, Alfred Olajide noted that anniversaries are an important part of life, as they remind people of important events, both personal and cultural. “So, this celebration not only gives us a chance to look back at the brand’s history but also an opportunity to highlight our plans for the future. This milestone is a testament to the possibilities and shared opportunities we have created in this great country,” he said.
Olajide explained that as the company prepares for more decades of excellence and enriching moments, there are opportunities to learn more, listen more, and continue to tailor its beverage solutions to provide consumers with the brands they love at the different phases of their lives, done sustainably for a better-shared future.
“We will continue to enable economic empowerment for the people who need it most – downstream and upstream of our supply chain to truly uplift future generations. Our environmental, social, and governance (ESG) goals are embedded in how we operate as a business – it has been the history and legacy of the business in Nigeria, and our consumers should not expect anything less than the promise of quality, personalisation, and the optimism that our beverages inspire.”
Olajide said Coca-Cola has always been at the forefront of corporate support for the development of football in Nigeria, as over 10,000 players from 500 schools and 50 celebrity football coaches have participated in the Copa Coca-Cola programme, which has reached the 36 States and the FCT, Abuja since it was launched in 2009.
He said: “In emphasising our current Real Magic philosophy, we will be kick-starting the Nigerians of Coca-Cola campaign, to tell a visual story of a diverse set of people across key regions in the country with different struggles and positive histories with Coca-Cola. These are people that have directly benefitted from the Coca-Cola System’s sustainability initiatives – from our value system to our key programme areas, such as women and youth empowerment, waste, wellbeing, and water stewardship. Through this activity, we will also highlight the long-term impact these partnerships and initiatives have had on the communities and individuals.”
The 70th-anniversary celebration will run through the remaining part of 2021, with activities designed to celebrate the milestone with customers, employees, partners and the general public for their support towards the growth of the business, which includes the Anniversary Stakeholder Event and consumer seeding/giveback programmes, among others.
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