The Coca-Cola Company has delayed plans to list Coca-Cola Beverages Africa (CCBA) as a publicly-traded company.
In April 2021, The Coca-Cola Company first disclosed its intention to sell a portion of its shareholding in CCBA via an initial public offering.
The decision is in line with the company’s objective of focusing its resources on building consumer-loved brands and innovation. The exact timing would be driven by a number of factors, including macroeconomic conditions.
The beverage company will however continue to evaluate macroeconomic conditions in deciding future timing for an IPO in 2023. Plans to have an Africa-focused bottler traded as an independent public company remain unchanged.
CCBA is the drink maker’s 8th largest bottling partner in the world by revenue, and the largest on the continent. It accounts for over 40% of all Coca-Cola products sold in Africa by volume.
CCBA shareholders are currently: The Coca-Cola Company 66.5% and Gutsche Family Investments 33.5%.
CCBA operates in 14 countries, including its six key markets of South Africa, Kenya, Ethiopia, Uganda, Mozambique and Namibia, as well as Tanzania, Botswana, Ghana, Zambia, the islands of Comoros and Mayotte, Eswatini and Lesotho.