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    Richest African man building fourth cement plant in Nigeria

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    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

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    Global tech billionaires eye Zambia’s electric vehicle battery mines

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    Africa will have 57 million pay TV subscribers by 2028, report

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    Africa startups defy funding slump as debt financing fuels growth

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    Digital banking revolution can help SA banks regain their customers’ love, says BCG

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    Nigeria launches payments card program to rival Visa and Mastercard

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    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

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    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

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    There was a 25% increase in finance app installs across Africa between 2021 and 2022

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    South African rand steady with investor focus on Fed minutes

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Coca-Cola delays listing of Coca-Cola Beverages Africa as a publicly traded company

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15/06/2022
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Coca-Cola delays listing of Coca-Cola Beverages Africa as a publicly traded company

The Coca-Cola Company announced it is delaying plans to list Coca-Cola Beverages Africa (CCBA) as a publicly traded company.

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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 exact timing would be driven by a number of factors, including macroeconomic conditions.

The Coca-Cola 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 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. 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.

Coca-Cola delays listing of Coca-Cola Beverages Africa as a publicly traded company

Source: African Business Communities
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