The Coca-Cola Company announces plans to delay listing of CCBA as a publicly traded company

Atlanta– The Coca-Cola Company announced today that it is delaying 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 Coca-Cola Company’s objective of focusing its resources on building consumer-loved brands and innovation.

The announcement said the exact timing would be driven by a number of factors, including macroeconomic conditions.

The Coca-Cola Company will continue to evaluate macroeconomic conditions in deciding future timing for an IPO in 2023. The plans to have an Africa-focused bottler traded as an independent public company remain unchanged.

About The Coca-Cola Company

The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company’s purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our hydration, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Gold Peak and Ayataka. Our nutrition, juice, dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.coca-colacompany.com and follow us on Twitter, Instagram, Facebook and LinkedIn.

About Coca-Cola Beverages Africa

CCBA is the 8th largest Coca-Cola 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. With over 17,000 employees in Africa, CCBA services more than 600,000 customers with a host of international and local brands. The group was formed in July 2016 after the successful combination of the southern and east Africa bottling operations of the non-alcoholic ready-to-drink beverages businesses of The Coca-Cola Company, SABMiller plc and Gutsche Family Investments. 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. Learn more at https://ccbagroup.com and follow us on LinkedIn.

Forward-Looking Statements

This press release may contain statements, estimates or projections that constitute “forward-looking statements” as defined under U.S. federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause The Coca-Cola Company’s actual results to differ materially from its historical experience and our present expectations or projections. These risks include, but are not limited to, our ability to realize the anticipated benefits from the potential initial public offering of Coca-Cola Beverages Africa, including whether such initial public offering will be completed on the anticipated timeline, if at all, and other risks discussed in our filings with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2021 and our subsequently filed reports, which filings are available from the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to publicly update or revise any forward-looking statements.

  • Business

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© Copyright CCBA 2026 | All Rights Reserved
Frank O’Donnell

Chief Commercial and Customer Officer, CCBA

Frank leads CCBA’s commercial agenda, with responsibility for accelerating revenue growth, strengthening route to market and customer partnerships and driving execution excellence across markets.

Frank brings extensive international experience from Coca‑Cola HBC, where he held a range of senior commercial and general management roles. Most recently, he served as Region Director, overseeing 13 markets across Europe, where he led high-performing teams and delivered strong business results.

He is recognised for his strong commercial acumen, customer focus and track record in building high-performing teams across diverse markets.

Gerald Lewis

Chief Information Officer, CCBA

Gerald leads CCBA’s digital, data and technology agenda, focusing on enabling business performance through scalable platforms and enhanced digital capabilities.  Gerald brings extensive international experience, most recently as Head of Technology Strategy & Operations at Coca‑Cola HBC. He has also held senior CIO roles at Bacardi across Africa, the Middle East and Asia, as well as transformation roles at GlaxoSmithKline and Mettler Toledo. He is recognised for translating technology strategy into business value and for leading transformation across emerging markets.

Matthew Welz

General Counsel and Company Secretary, CCBA

Matthew joined us from the Clicks Group, a JSE Top-40 company, where he has been the Head of Legal and Company Secretary since 2016. In this role Matthew successfully navigated a highly regulated environment, including overseeing compliance with company laws and the JSE Listings Requirements. As company secretary, he managed governance at Board level as well as being the Chairman’s chief of staff. Prior to this, Matthew was a Legal Manager with Anglo American, a major multinational diversified mining group, which includes three companies listed on the JSE, with extensive operations across Southern Africa.

CCBA Zambia Hero

Zambia

  • Brands: 09
  • Employees: 325
  • Plants: 01
Coca-Cola Beverages Zambia (CCBZ) became a subsidiary of CCBA in 2018.
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CCBA Uganda Hero

Uganda

  • Brands: 12
  • Employees: 894
  • Plants: 03
CCBA’s Ugandan subsidiary, Coca-Cola Beverages Uganda Limited (CCBU), has a 24-year track record in Uganda.
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CCBA Tanzania Hero

Tanzania

  • Brands: 09
  • Employees: 569
  • Plants: 02
Coca-Cola Kwanza is a subsidiary of CCBA covering 54% of Tanzania’s geography and employing over 500 people.
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CCBA Namibia Hero

Namibia

  • Brands: 15
  • Employees: 559
  • Plants: 02
The Coca-Cola system in Namibia, has a 70-year track record providing Coca-Cola brands tailored for consumer preferences.
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CCBA Mozambique Hero

Mozambique

  • Brands: 11
  • Employees: 818
  • Plants: 03
With more than 30 years serving the country, Coca-Cola Sabco Mozambique (CCSM) is a subsidiary of CCBA.
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CCBA Comoros Mayotte Hero

Mayotte

  • Brands: 13
  • Employees: 108
  • Plants: 01
The islands represent CCBA’s presence in Comoros and Mayotte.
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Malawi

  • Brands: 09
  • Employees: 249
  • Plants: 01
In 2022, CCBA acquired the soft drinks division of the Castel (Southern Bottlers Limited) in Malawi through a new entity called Coca-Cola Beverages Limited (CCBL).
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CCBA Where We Operate Hero

Kenya

  • Brands: 13
  • Employees: 1,800
  • Plants: 05
In one of East Africa’s largest-ever private equity investments, CCBA acquired 100% shareholding in Nairobi Bottlers Limited (NBL) in October 2019.
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CCBA Ethiopia Employee

Ethiopia

  • Brands: 06
  • Employees: 2,388
  • Plants: 05
East Africa Bottling Share Company (EABSC), a subsidiary of CCBA, is the largest bottler of Coca-Cola products in Ethiopia, having served the country for more than 60 years.
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CCBA Eswatini Hero

Eswatini

  • Brands: 16
  • Employees: 43
In August 2019, CCBA subsidiary, Eswatini Coca-Cola Beverages, commenced operations with a refreshed marketing and sales plan, based on Coca-Cola Beverages South Africa’s success.
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CCBA Comoros Mayotte Hero

Comoros

  • Brands: 04
  • Employees: 47
The islands represent CCBA’s presence in Comoros and Mayotte.
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CCBA South Africa Where We Operate

South Africa

  • Brands: 20
  • Employees: 5,558
  • Plants: 11
CCBA’s proudly South African subsidiary, Coca-Cola Beverages South Africa (CCBSA), has 11 manufacturing plants across 6 provinces.
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CCBA Botswana Hero

Botswana

  • Brands: 13
  • Employees: 297
  • Plants: 01
Based in the capital, Gaborone, CCBA’s Botswana subsidiary, which trades as Coca-Cola Beverages Botswana (CCBB), offers improved service and accelerated innovation for both the formal and informal markets.
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