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Coca-Cola, United States’ Soft drink giant is planning to exit the African market.
This is coming after a meeting with the company's potential partners.
It was gathered that Coca-Cola is considering a sale in the Sub-Saharan market but the specific location has not been stated.
However, persons close to the beverage manufacturer’s internal operations said an initial public offering is on the table.
If either of the exit plan is considered, the company’s operations in Africa currently worth $6 billion.
The American company account for 66.5 percent stake in the African subsidiaries, one of which is Coca-Cola Nigeria.
However, uncertainty still surrounds the exit talks.
It was gathered that one of the reasons Coca-Cola is considering its exit from African market is the desire to reduce the amount of capital it invested on the continent following an unprecedented COVID-19 pandemic which shook Africa and global trade.
