Coca-Cola tells industry: Invest in poorest regions

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Muhtar Kent.

Coca-Cola CEO Muhtar Kent has called on industry bosses to invest in infrastructure to "serve the most under-served consumers in the most underprivileged regions of the world, those hundreds of millions of people today who will ascend to the middle class in the coming decade".

"The growth and sustainability of the global food industry are essential to feeding the world, providing jobs and livelihoods, and protecting our natural resources and environments," he said.

The Turkish national, who assumed the CEO position on 1 July, delivered the keynote address at the recent CIES Food Business Summit in Germany and cited UN Secretary General Ban-ki Moon's estimate that it will require up to US $20 billion (AED 73.4 billion) annually in agricultural innovations to offset the current food crisis situation.

Coca-Cola's manual distribution network in Africa provides opportunities for entrepreneurs and 2300 centres have already been established, with a target of 2000 more.

These under-served consumers will play a significant role in determining our market leadership in the future, many of whom will rise into the middle class in the next decade, taking their brand loyalties with them."

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