The International Finance Corporation, the private sector arm of the World Bank Group, will lend US$10mn to finance the expansion of Bonite Bottlers, which holds the franchise to bottle and distribute Coca-Cola’s carbonated soft drinks and bottled water products in northern Tanzania.
IFC’s financing will support a US$20.6mn investment programme to upgrade and expand the company’s production plant in Moshi, in northern Tanzania. It will also help the company strengthen its presence in the region by supplying a wider range of products through an improved network and more efficient distribution logistics. Bonite Bottlers is a member of the Tanzanian-owned IPP Group.
The company’s expansion project will create 50 permanent and 100 temporary jobs. It will further support employment and the development of small and medium enterprises as part of the company’s distribution and retailing network. IFC’s participation will also strengthen Bonite Bottlers “environmental safeguards and corporate social activities.
