Details

Category: Africa News

Written by Trevor William

Neville Isdell, Coca-Cola Co.'s former chairman and chief executive, is no stranger to Africa. He moved to Zambia at 10 years old, went to college in South Africa and learned the ropes of the Coke business working for bottlers in both countries.

He even keeps a residence in Cape Town, where he played rugby at the local university and earned a bachelor's degree in sociology.

So it's little wonder that the Northern Ireland native is building the economic future of Africa even in retirement.

Along with former Tanzanian President Benjamin Mkapa, Mr. Isdell chairs the Investment Climate Facility for Africa, which aims to remove barriers to business. The group is working in about 30 countries to address issues such as contract enforcement, infrastructure and other hindrances to business.

Africa's problems are widespread, but so are its opportunities, Mr. Isdell told GlobalAtlanta in a wide-ranging filmed interview.

"(Africa)'s not the story of tomorrow, but it's the story maybe of the day after tomorrow, and I think it's happening," he said.

Growth, both for Coca-Cola and other firms, is sizzling in many sub-Saharan African countries. Over the last 10 years, the six of the 10 fastest growing economies were from the region, though many of those same countries are among the toughest places to do business.

With the return of educated members of the diaspora and the rise of middle-class consumers, Mr. Isdell sees "a new Africa emerging" with a strong appetite for political and economic reforms.

"It's going to be staccato. You're going to have some [countries] that fall off the bus, you're going to have some that get on the bus. It's just the nature of it, and of course, you'll read about the failures, but there are lots of successes taking place," he said.

Many Atlanta groups are involved in initiatives that seek to position the city as the U.S. gateway to investment on the continent.

On Sept. 26, the Sierra Leone President Ernest Bai Koroma visited Atlanta to pitch his country's improved business environment to local business and government leaders.

He suggested to investors pursuing growth in the more popular BRIC and Asian countries that "Africa is the next investment destination" and that his West African country should be their first step into the continent.

Nigeria's minister for trade and investment is to visit Atlanta Nov. 20-22.

Coca-Cola's volume in sub-Saharan Africa grew 6 percent in the second quarter 2011, according to a July 19 earnings release.