Coke CEO: We're Betting Big on Africa

AP

Coca-Cola bottles

Africa is the continent that Coca-Cola is betting big on, Coca-Cola CEO and Chairman Muhtar Kent told CNBC Wednesday.

“I think Africa could be a very, very vibrant story of the next decade,” said Kent.

Coca-Cola , which is Africa's biggest employer, invested $6 billion there in the last decade and plans to double that amount in the coming decade.

“It’s a fantastic continent with richness,” he said, but added. “What is needed in Africa is better governance—we’re seeing improvement, but not fast enough—better transparency and more openness between government and business.”

He said he expects the US economy to rebound before Western Europe does.

• Slideshow: Warren Buffett Likes Coke