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Coca-Cola Invests Big in Egypt

The drinks giant has announced a $500 million injection into Egypt.

There are those who love Coca-Cola and those who absolutely hate them. No matter what side of the debate you are on, there is no debating that the announcement of investing $500 million in Egypt is good news.

Coca-Cola made the announcement after a meeting on Tuesday that was held with the company's CEO Ahmet Bozer, the newly appointed Prime Minister Ibrahim Mehleb, and Minister of Investment, Mounir Fakry Abdel Nour.

The investment plan will be mix of commercial and community programmes, and will refurbish 100 rural villages by 2020, under the Egypt livelihood community initiative. As it stands Coca-Cola has been working in Egypt for 70 years, and currently employ 12,000 Egyptians. At times, it appears that Coca-Cola are eid wahda with Egypt's government as they did just recently bring Pele here, in PR stunt that attempted to help the country look stable. Unfortunately, the event, although well organised and attended, fell short of changing Egypt's image it was the same time terrorists attacked a tourist bus in Sinai.

There is still no word how many jobs will be created with this investment plan, but any way you slice it this is good news in a country that is increasingly used to hearing bad news.