Chairman and CEO message
Letter from our Chairman

Alfonso Líbano Daurella
Chairman
Two years after the launch of our ESG Impact Strategy 2030, I am proud to say that our commitment to sustainability has become deeply embedded in the way we operate and grow. In 2024, we not only stayed the course, but we accelerated our impact.
Across our different Business Units, we have continued to turn our ESG ambitions into measurable outcomes. We have strengthened our efforts to manage resources responsibly, advance our circular economy model, and reduce emissions.
Our focus on social responsibility remains a central pillar of our strategy. This year, we expanded initiatives aimed at empowering young people, supporting education and health, and promoting equity in the workplace. We believe that the strength of our business lies in the well-being and resilience of our people and communities.
At the same time, we have reinforced our governance practices, ensuring that transparency, ethics, and accountability remain at the heart of our decision-making.
We are strengthening our data management, controls, and oversight processes to support better, faster, and more responsible business outcomes.
This year, we also partnered with an external firm to assess the environmental and social value created through our ESG initiatives. The findings confirmed that our Sustainability investments are delivering strong returns—not just in financial terms, but in lives improved, emissions avoided, and resources preserved.
These results reinforce what we have always believed: that sustainability is not just a responsibility, but an opportunity. An opportunity to lead with purpose, to innovate with integrity, and to create long-term value for Africa and beyond.
I want to sincerely thank our leaders and teams, communities, customers, and partners for their continued trust and support. Your dedication inspires our mission and drives our shared success.
Together, we are building a better future—for business, for people, and for the planet.
Chairman and CEO message
Letter from our Chief Executive

Alfonso Bosch
CEO
In a year marked by economic uncertainty, ECCBC has continued to move forward with determination and purpose. Our commitment to sustainability, local impact, and long-term value creation has remained unwavering.
We know that the communities we serve are facing challenges, and our role has never been more important. In 2024, we placed a strong focus on affordability, ensuring that our products remain accessible even in times of inflation and financial pressure. At the same time, we are driving operational efficiency and innovation to meet these demands without compromising on quality or sustainability.
Our strong local presence continues to be one of our greatest strengths. By working closely with local suppliers, investing in community partnerships, and adapting our business models to local realities, we are reinforcing our impact where it matters most. We source, employ, produce and serve locally.
This year, we continued implementing our ESG Impact Strategy, which is based on a consolidated governance model that includes an ESG Board Committee and an Executive Steering Committee. It also marked the 21st edition of Dar L’Ftour, a Ramadan solidarity initiative that supports over 50,000 families. For more than twenty years, this program has aimed to foster values such as generosity, care, and local connection.
Regarding water, this year marks a significant milestone with the launch of the Coca-Cola System “Refresh Africa 2030” project, in partnership with the Global Water Challenge (GWC).
This initiative aims to address critical water-related challenges in local communities across 20 African countries, including ECCBC markets. In terms of packaging, we have collaborated with the industry in Ghana to establish rPET standards, thereby promoting a circular economy for our bottles.
We are also proud to be recognized as the Best Place to Work in 2024, ranking of 29th position of the entire globe. This recognition reflects our commitment to creating a supportive, inclusive, and empowering workplace for our people. Our teams are the foundation of our success, and their dedication continues to inspire our progress.
I am personally proud of our outstanding achievements in ensuring people’s safety. ECCBC maintains a leading position within the Africa Coca-Cola System regarding safety and our commitment to the “zero is possible”.
Looking ahead, we remain focused on building a more agile and sustainable ECCBC.
I would like to thank all our collaborators, partners, and stakeholders for their trust and engagement in maximizing together our positive impact on the communities we serve. Together, we will continue to deliver value, act with integrity, and create a positive future for our business and the communities.
Executive summary
Our commitment to ESG excellence extends beyond rhetoric to tangible action. We have set ambitious ESG targets that reflect our dedication to measurable progress and accountability.

At Equatorial Coca-Cola Bottling Company (ECCBC), our deep-rooted commitment to Environmental, Social, and Governance (ESG) excellence remains steadfast as we navigate the complex landscape of sustainability challenges.
Guided by our core values, we focus on the most relevant ESG issues to our company, stakeholders, and communities. In close collaboration with trusted partners, we continuously assess and refine our ESG priorities to ensure that they remain meaningful and effective. These priorities are fully integrated into our business strategy and daily operations, forming a solid foundation for long-term resilience and sustainable growth.
Our commitment to ESG excellence extends beyond rhetoric to tangible action. We have set ambitious ESG targets that reflect our dedication to measurable progress and accountability.
This report serves as a testament to our transparency and commitment to reporting on our journey towards achieving these targets up to December 31st, 2024.
Our company
At a glance

Presently, ECCBC operates across 13 African countries, effectively reaching more than 168 million consumers and servicing in excess of 254,000 retail outlets, facilitating approximately 2.3 billion transactions annually.
We are the bottling partner of The Coca-Cola Company across North and West Africa, where our teams produce, commercialize, and distributes the world’s most loved brands and a wide choice of high-quality beverages including Coca-Cola, Fanta, and Sprite. Equatorial Coca-Cola’s (ECCBC) story began in 1989 in Equatorial Guinea, before expanding to other countries including Guinea Conakry, Mauritania, Cape Verde, Guinea Bissau, and The Gambia. In 1997, ECCBC was re-founded as a Group to serve as a platform for growth into new territories like Ghana, Morocco, and Algeria.
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1951
The Daurella Family has maintained a remarkable, long standing partnership with Coca-Cola since 1951.
Along the way, they acquired the rights to distribute Coca-Cola in Equatorial Guinea.
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1989
Operations were discontinued due to conflict, but they were restarted in 1989, with just 6 employees and 50,000 cases.
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1993-1996
COBEGA’s African business expands to new territories: Guinea Conakry, Guinea Bissau, Mauritania, Cape Verde and the Gambia
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1997
ECCBC is born, along with the acquisitions of Ghana and Sierra Leone. Soon afterwards, Liberia and São Tomé are added to company’s growing footprint.
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2002
The first investments are made in Morocco. The full number of acquisitions in Morocco are completed in 2005.
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2004
ECCBC acquires Ceris S.A., a Cape Verdean brewery.
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2005
ECCBC acquires Fruital S.A., a Coca-Cola bottler in central Algeria
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2010
ECCBC reaches 100 million unit cases (570 million liters).
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2012
ECCBC reaches 150 million unit cases (951 million liters).
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2013
ECCBC starts the first Coca-Cola franchise in South Sudan.
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2020
Equatorial Coca-Cola establishes the group’s Head Office in Casablanca, Morocco
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2022
Equatorial Coca-Cola integrated East and West territories in Algeria and reached an agreement to acquire Northern Morocco.
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2024
ECCBC reached above 200 million unit cases (1.14 billion liters)
Our operations
After more than 30 years reaching over 168 million consumers serving more than 254 000 points of sale with above 2.3 billion transactions per year, and creating indirect jobs to over 35 000 people in Africa.

Company facts
+30
Years

Head Office
Casablanca, Morocco

13
Operational markets

24
Brands
ECCBC
+168M
Consumers

+254.000
Points of sale

Above 2.3B
Transactions per year
+50.000
Indirect jobs creation in Africa
2024 Performance
1B $
Turnover
2.3 billion
Transactions
+5.000
Total employees
10
Bottling plants
42
Production lines
24
Brands

Our vision
To be the best FMCG company in each of the markets that we operate, lead Africa system growth and become the most important Coca-Cola anchor partner in Africa.
Our values
Accountability

We are accountable and transparent in everything we do. As responsible members of our communities, we think globally and act locally.
Diversity

As a leading company in Africa with roots in the family business, we understand the tough realities of the countries where we operate and respect both their diversity and their heritage.
Excellence

Whilst our production, quality and execution are consistently excellent, we can adjust to the challenges of our markets with speed and agility.
Passion

We share the hopes and aspirations of our local communities, and we believe in what we do. We have fun at work, and we are passionate about refreshment, consumers, customers and people.
A winning team

We are more than the sum of our parts through trust,
collaboration and dedication.
We don’t just work hard, we work smart.
Sustainability

We work together in harmony with our communities in order to preserve the natural environment for future generations.
Awards
These recognitions reflect ECCBC’s continued dedication to sustainability and our drive to make a meaningful difference, both in the communities we serve and beyond.
ECCBC takes immense pride in our commitment to sustainability, which has garnered recognition and acclaim across various esteemed platforms. Our dedication to excellence and positive impact has been underscored by several notable awards:
Best Places to Work Certification

Equatorial Coca-Cola Bottling Company has been ranked the 29th Best Place to Work in the world and 16th in Africa. A recognition that reflects our strong people-centric culture. This follows the certification of two of our Business Units, Algeria and Cabo Verde, as Best Places to Work.
Ghana Beverage Awards 2024
ECCBC was named Corporate Social Responsibility Company of the Year in recognition of the contribution to sustainable development and its social and environmental support across the industry and the communities we serve.
Ghana National FMCG Award 2024
ECCBC won The CSR Campaign of the Year in recognition of the commitment to sustainable development through the women empowerment initiatives, reflecting our dedication to social progress and support for the communities we serve.
Communitas Award 2024
ECCBC has won the Communitas Award in the category of Leadership in Community Service and Corporate Social Responsibility for the exceptional mobilization in the earthquake affecting the Haouz Region in Morocco. This award celebrates the quick response and exceptional mobilization of our Group, the ECCBC Morocco team, and the broader Coca-Cola system.
2024 Casablanca Plant VP Award
The Casablanca plant was recognized for its out standing safety measures and strict adherence to safety protocols, thereby contributing to a safer working environment for all employees.
2024 Accra Plant VP Award
The Accra plant received the 2024 VP Award, recognizing its continued commitment to enhancing and maintaining the highest standards of safety practices.
ESG Impact Strategy 2030
At Equatorial Coca-Cola, we have a long history of partnering with our communities to create long-term value for our shared future.
In line with our vision “To be the best FMCG company in each of the markets that we operate, lead Africa system growth and become the most important Coca-Cola anchor partner in Africa,” ECCBC put in place its ESG Impact Strategy at the end of 2020. This marked a key step in building a more structured and accountable approach to managing our environmental and social impact, while staying aligned with the expectations of our stakeholders.
The strategy was developed following a single materiality assessment, which brought together insights from both internal and external stakeholders. The results of this assessment helped define ECCBC’s ESG priorities and shaped the roadmap that guides our work today.
The ESG Impact Strategy is designed to create long-term value by aligning business decisions with ESG considerations. We recognise that our success is closely tied to the wellbeing of the communities we serve. Their progress is essential to ours.
The strategy remains guided by the UN Sustainable Development Goals and Coca-Cola’s global 2030 targets.
Consequently, our updated strategy will center around six key pillars where ECCBC holds considerable influence and can deliver substantial value. Each pillar is underpinned by a set of commitments, action plans, and initiatives designed to drive progress toward our 2030 Sustainability Goals.
