Standard Bank unlocks $50m in funding for Coca-Cola Beverages Africa’s Ethiopia expansion
JOHANNESBURG – Standard Bank has successfully arranged and structured USD50 million in financing facilities for Coca-Cola Beverages Africa (CCBA) to support its expansion strategy in Ethiopia over the next five years.
The Coca-Cola Company holds a majority stake in CCBA, which is the largest bottler of Coca-Cola beverages in Africa – serving 13 countries on the continent – and eighth largest in the world by revenue.
Standard Bank, Africa’s largest bank by assets, “started its journey with CCBA a few years back and, as the relationship developed, has established itself as a primary banker to CCBA across key Africa geographies in which it operates. We have demonstrated the importance of our partnership with CCBA by offering unique solutions to key concerns, of which this transaction is a prime example,” says Simon Reeves, Standard Bank’s relationship manager for CCBA.
Source: iol.co.za