Coca-Cola Beverages SA Regains Level 1 B-BBEE Rating
The bottler improved from a Level 2 rating in the previous cycle to Level 1 for the 2025 assessment period.
Updated on Nov. 9, 2026 in Corporate Finance
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Coca-Cola Beverages South Africa has regained a Level 1 B-BBEE rating for the 2025 assessment period, up from Level 2 in the previous cycle. The company, which manufactures and distributes most Coca-Cola products in South Africa, credits strong performance across several scorecard elements.
Why it matters
A Level 1 B-BBEE rating signals verified progress on broad-based black economic empowerment, which affects how South African companies are assessed by government and business partners. The result reflects a multi-year effort to embed transformation and economic participation across the business.
The rating is based on verification for the 2025 assessment period, with the company moving from Level 2 to Level 1 and holding 20% black shareholding alongside a 15.5% stake held by the Ikageng Employee Share Trust. The company achieved full and bonus points under the enterprise and supplier-development element, though the source does not give the overall scorecard total.
The players
Coca-Cola Beverages South Africa (CCBSA)
The bottler responsible for manufacturing and distributing the majority of Coca-Cola products in South Africa, and a member of the wider Coca-Cola Beverages Africa group.
Ikageng Employee Share Trust
An employee share trust that holds 15.5% of Coca-Cola Beverages South Africa, giving staff an ownership stake in the company.
The details
The company achieved full and bonus points under the enterprise and supplier-development element of the scorecard. It operates 11 manufacturing plants across six provinces, employs more than 5,600 people, and services over 195,000 customer outlets nationwide, excluding the Western Cape.
Timeline
2025 assessment period: verification underlying the Level 1 rating
Previous cycle: company held a Level 2 rating
Market Landscape
The upgrade places Coca-Cola Beverages South Africa among firms that have moved up the B-BBEE scorecard, which many large South African companies use to qualify for government procurement and to win business from empowerment-minded partners. It also reflects the company's position as the country's main Coca-Cola bottler, with a scorecard result that strengthens its standing against other large consumer-goods suppliers.
Consumers are unlikely to see direct price or product changes from the rating itself. The upgrade matters most to businesses and public bodies that assess suppliers and partners using B-BBEE levels.
The takeaway
Scorecard upgrades such as this one show that empowerment targets can be met through sustained employee ownership, supplier development and board representation rather than one-off measures. Companies tracking their own B-BBEE position can use the same scorecard elements as a checklist.
Further reading
For more on how companies are assessed under the scheme, see Corporate Finance coverage.
Source note: This article includes information reported by Globalafricanetwork.
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