Coca Cola to Halt Operations in Liberia; Hundreds of Jobs at Stake
MONROVIA – According to reliable sources within the administrative hierarchy of Coca Cola Liberia, the soft drink giant is set to shut down its operations in Liberia in the very near future.
A source who spoke under the condition of anonymity said discussions have started with workers and distributors.
The Coca Cola plant has been a fixture in Monrovia for decades and never shut down even during the civil war.
The closure is said to be caused by the deepening economic situation. “Because of the inflation, the price of soft drinks has multiplied by 5, putting it out of range of our customers” said the source who is very knowledgeable about the operations of the company.
When reached by our reporters, Coca Cola management said they couldn’t comment on ongoing restructuring issues.
Another constraint faced by the international soft drink giant is, according to insiders, that the marked is flooded with low quality unregulated soft drinks. “We are a brand and a quality known around the world, we cannot compete in a market where quality control is not the rule.”
The Ministry of Commerce was not reachable for comment.
Currently, Coca Cola Liberia employs hundreds of Liberians.
It is not sure whether another soft drink company will take advantage of the void.
“This is a big blow to our economy… thousands of people make their living with Coca Cola.