The Coca-Cola Company, along with its bottling partners Kwanza Bottlers (Dar es Salaam), Bonite Bottlers (Moshi) and Nyanza Bottlers (Mwanza), intends to invest $187m in Tanzania over the next three years to tap the non-alcoholic ready-to-drink (NARTD) market.

Coca-Cola chairman and CEO Muhtar Kent told that they have been in Africa since 1928, and this continent remains a critical market for the company.

"We also recognize Africa’s extraordinary growth potential, which is one reason we plan to spend significantly in the continent during this decade," Kent said.

"Africa’s growing middle class and increasingly younger population creates growth opportunities for our business."

Kent pointed that, increasing investment in infrastructure, growth of the telecoms industry, rising middle class and burgeoning teen population are some of the indicators that Africa is the next frontier for business.

The company has so far invested over $358m in Tanzania over the last three years and over $6bn in Africa over the last decade.

Kent informed that the new funds will be used for manufacturing and distribution infrastructure and marketing to boost competitiveness.

Coca-Cola, which intends to invest another $12bn by 2020, has already carried out many water and sanitation initiatives across Tanzania in collaboration with Government, NGOs and development firms.