Saad Abdul-Latif, the Chief Executive Officer of PepsiCo Asia, Middle East and Africa, is in the country to appraise the global beverage giant’s business in the region as well as celebrate 20 years since the company was privatized. Abdul-Latif is accompanied by top PepsiCo executives from across the world.
Previously known as Lake Victoria Bottling Company, the company was in 1993 sold to a consortium of local shareholders, who, in 1997, sold a controlling stake to International Pepsi-Cola Bottler Investments - a South African firm, before buying back the stake in the business in 2001, again making the company 100% Ugandan.
The three Ugandan shareholders are Amos Nzeyi, Chris Kayoboke and Dr Maggie Kigozi. The three shareholders have grown the firm by 900 per cent, from a small government-owned operation bottling two million crates a year to a robust producer of 20 million crated annually.
To celebrate these achievements, the company will today have a business dinner at the Kampala Serena hotel.Amos Nzeyi, the Executive Chairman Crown Beverages Limited, attributed the company’s success to investing in the right people, the right product mix as well as expanded production facilities.
“The last 20 years have undoubtedly been the most fruitful of Pepsi’s 62-year presence in Uganda,” he said, adding: “We believe we have set a more solid foundation on which we shall build an even greater company over the next 20 years.”
Chief Executive Officer Simon Lugoloobi said: “Having triumphed over the numerous challenges in such a fast-moving and fast-changing sector like the CSD market and in the country where most local companies do not live to celebrate their second birthday, [this] is a reason to celebrate,” he said.