ECCBC is a bottling company for The Coca Cola Company (“TCCC”) across 13 African countries including Morocco, Algeria, Ghana, Guinea Conakry, Cape Verde, Liberia, Gambia, Mauritania, Sierra Leon, South Sudan, Guinea Bissau, Equatorial Guinea and Sao Tome and Principe. With 27 production lines and 7 bottling plants, the Company produces, commercializes and distributes soft drinks, juices, energy drinks and malt. It was founded in 1997 in Equatorial Guinea and expanded through acquisitions.

ECCBC’s main shareholder is the Daumeridian Invest, SL., which owns about 74% stake in the Company and The Coca-Cola Export Corporation (TCCEC) with about 26% stake.    

The total project cost is expected to be €80million and the proposed IFC investment is an A Loan of up to €53 million and a BCFP Loan of up to €17million and internal cash flow generation. The loans will be used to finance ECCBC’s sustainability CAPEX and working capital needs.   

The proposed investment will support the Company’s capacity expansion program and sustainability initiatives in North Africa (Morocco and Algeria) and West Africa (Ghana, Cape Verde and Guinea Bissau) Regions.

ECCBC’s governance was assessed at adequate and no risks to development impacts are noted.          

This is a Category B project according to IFC’s 2012 Policy on Environmental and Social Sustainability as the project is expected to have limited adverse environmental and social risks and impacts that are few in number, short-term and site-specific, and can be avoided or mitigated by adhering to recognized Good International Industry Practices (GIIPs) procedures, guidelines, design criteria and resource efficiency/control equipment’ Best Available Technology (BAT) as described in the following sections and the attached E&S Action Plan (ESAP). This categorization is aligned with similar type of projects within the sector.

The key E&S risks associated with this project include: (a) corporate and plant-level E&S management systems and staffing to manage the operations in line with IFC PSs requirements; (b) assurance of fair, safe and healthy working conditions in compliance with country’ legal labor laws and PS2 requirements; (c) emissions, wastewater, and solid waste management in line with WBG EHS Guidelines; (d) sustainability of water sources used for the production line; (e) recycling/reuse of plastic waste generated after consumption of products; (f) supply chain risks for sugar; (g) community risks due to  transport and security; and (f) stakeholder engagement plan and community grievance mechanism.