Coca-Cola (KO-0.5%) held a virtual Capital Markets Day for the Coca-Cola Beverages Africa business that it expected to be set free in an IPO sometime this year.
Bank of America notes that CCBA is the largest Coca-Cola bottler in Africa with operations in a dozen countries in addition to African islands. The bottler sees a unique growth opportunity in Africa, underpinned in part by a strong track record of delivering profitable growth in hard currency, attractive long-term growth fundamentals and a growth strategy supported by disciplined investments behind capacity and capabilities.
Organic revenue growth for the company in 2021 through the September quarter was 13.9% on a constant currency basis and organic EBITFA growth was up 19.4%.