Chairman and CEO message
Letter from our Chairman
Alfonso Líbano Daurella
Chairman
As we reflect on the past year, ECCBC continues to demonstrate the strength of a business model built on resilience, local engagement, and long-term vision. Across the markets we serve, our teams have remained focused on delivering sustainable growth while strengthening our role as a trusted partner to communities, customers, and stakeholders.
During the year, we continued expanding our footprint and reinforcing our local presence across Africa. The acquisition of Voltic in Ghana marks an important milestone in this journey, strengthening our position in West Africa and reaffirming our commitment to investing in the markets where we operate. This expansion reflects our long-standing belief that sustainable growth is rooted in strong local partnerships, local production, and meaningful engagement with the communities we serve.
At the same time, we have made significant progress in enhancing our operational capabilities. Investments in production capacity, logistics, and infrastructure are enabling us to support our growing markets more efficiently while ensuring that our operations remain agile and competitive. These improvements are essential to delivering high-quality products while maintaining the reliability and efficiency that our customers expect.
Our commitment to responsible business practices remains deeply embedded in our growth strategy.
Across our value chain, we continue to strengthen initiatives aimed at managing resources responsibly, supporting circular solutions, and fostering long-term environmental and social value. These efforts are guided by robust governance structures and a culture that encourages accountability and continuous improvement.
Equally important is the strength of our people. Once again, ECCBC has been recognized as a Best Place to Work, a recognition that reflects our commitment to fostering an inclusive, supportive, and empowering workplace. Our teams remain the driving force behind our progress, and their dedication continues to inspire our ambition.
Looking ahead, we remain confident in ECCBC’s ability to navigate evolving challenges while capturing new opportunities. By combining operational excellence, strong local partnerships, and a clear long-term vision, we will continue to strengthen our position as a leading bottler within the Coca-Cola System and a responsible contributor to the markets we proudly serve.
I would like to extend my sincere gratitude to our employees, partners, customers, and communities for their continued trust and collaboration. Together, we will continue building a resilient, responsible, and forward-looking ECCBC.
Chairman and CEO message
Letter from our Chief Executive
Alfonso Bosch
CEO
The past year has been defined by strong operational execution and continued progress across our strategic priorities. Our teams have remained focused on strengthening our business capabilities and advancing initiatives that support ECCBC’s long-term sustainability ambitions.
Among the major milestones of the year was the inauguration of two new production lines at our Casablanca plant in Morocco and the integration of Voltic in Ghana. These investments represent an important step in strengthening our production capacity and improving operational efficiency to better serve our growing markets.
2025 also marked an important evolution in how we structure and manage sustainability at ECCBC. Building on our ESG Impact Strategy 2030, we have extended our long-term horizon toward 2035, reinforcing our strategic priorities through the completion of a Double Materiality Assessment. This work has strengthened the alignment between our business objectives, risk management, and the environmental and social challenges most relevant to our markets.
In parallel, we continued advancing our climate commitments through tangible operational projects, further strengthening the integration of ESG into our business performance. At our Casablanca plant, we launched the installation of solar panels to support the decarbonization of energy used in our production processes.
We are increasingly embedding sustainability into our commercial and operational decisions, ensuring that ESG initiatives deliver tangible business value.
This includes the deployment of Reverse Vending Machines to support both, collection targets and consumer engagement, the integration of sustainability into point-of-sale execution and customer engagement, and the rollout of energy-efficient cold drink equipment, alongside continued progress in circular packaging solutions and enhanced operational monitoring tools.
The same integrated approach also applies to water, which remains a key priority for ECCBC. During the year, we launched a flagship replenishment initiative in Morocco under the Africa Water Stewardship Initiative; this project focuses on restoring wetlands and strengthening water resilience within the Oum Er-Rbia basin, one of Morocco’s most important watersheds.
At the same time, we continue strengthening our organizational capabilities through initiatives such as the ESG Academy, equipping our teams to integrate sustainability into daily decision-making.
Looking ahead, we remain focused on strengthening operations, driving innovation and efficiency, and advancing practical initiatives that build a more sustainable and resilient business.
This progress would not have been possible without the commitment and close collaboration of our teams, partners, customers, and the community. We extend our sincere recognition and gratitude to them for their continued trust and support.
Our company
Economic Impact Data
The Coca-Cola system announced the results of a comprehensive socio-economic impact study, conducted by global consulting firm Steward Redqueen in our 3 main markets Morocco, Algeria and Ghana.
The numbers speak for themselves, reflecting the importance of the The Coca-Cola system, where ECCBC acts as an engine of inclusive economic growth, job creation, and value-chain development across all three countries; Supporting local suppliers, strengthening distribution ecosystems, and reinforcing long-term community and fiscal contributions throughout the region.
Morocco
USD 724 million
Value-added economic impact across the value chain
Algeria
USD 348 million
Value added supported across the economy through the value chain
Ghana
USD 81 million
Value-added economic impact across the value chain
37,000+ jobs supported
Direct and indirect employment across retail, agriculture, manufacturing, transport, and services
21,000+ jobs supported
Direct and indirect employment across retail, agriculture, manufacturing, transport, and services
13,000+ jobs supported
Direct and indirect employment across retail, agriculture, manufacturing, transport, and services
USD 302 million
Direct and indirect employment across retail, agriculture, manufacturing, transport, and services
USD 217 million
Invested in locally sourced goods and services, strengthening national industries and communities
USD 23 million
Invested in locally sourced goods and services, strengthening national industries and communities
Our company
At a glance
We are The Coca-Cola Company’s bottling partner across North and West Africa. Our teams produce, sell, and distribute some of the world’s best-known brands, including Coca-Cola, Fanta, and Sprite, along with a wide range of high-quality beverages.
ECCBC’s story started in 1989 in Equatorial Guinea. From there, we expanded into Guinea Conakry, Mauritania, Cape Verde, Guinea Bissau, and The Gambia. In 1997, ECCBC was re-established as a Group to support growth into new markets, including Ghana, Morocco, and Algeria.
Today, ECCBC operates in 13 African countries. We reach more than 168 million consumers and serve over 254,000 retail outlets, representing around 2.5 billion transactions each year.
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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)
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2025
ECCBC Acquires Voltic in Ghana.
Our operations
After more than 30 years reaching over 168 million consumers serving more than 254 000 points of sale with above 2.5 billion transactions per year, and creating indirect jobs to over
70 000 people in Africa.
Company facts
+30
Years
13
Operational markets
Head Office
Casablanca, Morocco
ECCBC
+254.000
Points of sale
+168M
Consumers
+70.000
Indirect jobs creation in Africa
2025 Performance
1B $
Turnover
2.5 billion
Transactions
+5.000
Total employees
13
Bottling plants
47
Production lines
27
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
ECCBC Morocco has been awarded the Best Place to Work 2025 international certification, ranking 2nd in Morocco and 3rd in Africa. The recognition reflects the company’s strong workplace culture, with 88% employee satisfaction and 93% compliance with international HR standards, highlighting its continued investment in people, diversity, inclusion, and a culture of excellence and collaboration.
ECCBC Algeria has been certified Best Place to Work 2025 for the second consecutive year, ranking 2nd nationally. The recognition, based on an independent evaluation, highlights the company’s strong employee experience and HR culture built on trust, respect, listening, social dialogue, and career development.
CSR Education and Training Support Award
in recognition of our sponsorship of the Errafik Club for children with Down syndrome—where we helped build a multidisciplinary infrastructure that meets international standards—as well as our IBDA programme, which promotes the professional inclusion of newly graduated youth.
Excellence in Corporate Operations & Governance
Awards (Ghana)
Highlights ECCBC Ghana’s strong governance framework and operational integrity, ensuring sustainable and compliant business practices.
Outstanding Business Management Team of the Year:
Recognizes (Ghana)
The leadership team’s strategic vision and execution excellence,
driving consistent growth and organizational
resilience.
Africa Operating Unit Safety Awards
Two Years in a row ECCBC continues to set the standard with Cobomi and Accra showing what a true safety first looks like on the ground.
ESG Impact Strategy 2030
At ECCBC, our ambition is clear: to grow responsibly while creating long-term value across North and West Africa. Operating in diverse and often complex markets, we recognize that resilience is built through responsible business practices, innovation, and strong partnerships with the communities we serve.
Our ESG Impact Strategy 2030 serves as the strategic foundation for sustainable growth across our 13 markets. It guides how we manage environmental resources, support communities, strengthen our supply chain, and develop our people. Fully aligned with The Coca-Cola Company’s global commitments and adapted to local realities, our strategy embeds sustainability into business planning, investment decisions, and operational execution.
The strategy focuses on six priority pillars: Packaging, Water, Climate, Communities, Sourcing, and People. These pillars reflect where ECCBC can generate the most meaningful and measurable impact, both for our business and for society.
Our framework is built on a structured stakeholder engagement process. It incorporates insights from senior leadership, Business Units, and functional teams across the Group. It also reflects dialogue with customers, suppliers, community partners, and other key stakeholders. This ensures that our priorities are not defined in isolation, but shaped by the expectations and challenges of the markets in which we operate.
The strategy integrates the findings of our Double Materiality Assessment, identifying both the environmental and social issues that impact our business performance and the areas where our operations have the greatest impact on society and the environment. This approach reinforces the relevance and long-term focus of our ESG agenda.
By strengthening governance, ensuring strategic alignment, and promoting cross-functional collaboration, our ESG Impact Strategy 2030 drives measurable progress across our value chain — from sourcing and production to distribution and community engagement. It ensures that sustainability at ECCBC remains dynamic, accountable, and fully integrated into how we operate and grow.
