The IncuBev founders are passionate about business growth in the African food and beverage sector as well as ongoing social transformation

About Us

IncuBev Limited is a Mauritius based investment firm, focused on building a portfolio of pan-African consumer packaged goods businesses. With the interests of the consumer at the epicentre, the company is focused on seamlessly delivering competitive, branded food and beverage products to the continent.

IncuBev has deep industry expertise and is able to leverage a strong network of global and regional partners to accelerate economic and social value delivery across the businesses it acquires. In addition, the company has intimate knowledge of Africa, understands the risks and opportunities of doing business on the continent and is invested in ensuring the long-term sustainability of the high potential businesses it invests in.

The IncuBev Story

IncuBev arose from a combination of love for, commitment to, and belief in Africa and its greatest natural resource - its people. The founders of IncuBev are alumni and current executives at some of the largest and most successful consumer packaged goods companies, management consultancies and investment banks in the world. Each founder, each with their own unique, yet complementary set of skills, was motivated with a deep desire to play a high integrity role in economically transforming Africa. When retirement time came around, the desire to continue identifying and leveraging continental opportunities, particularly in the consumer packaged goods categories of juices, still beverages and food, hadn’t faded. The next step? Ensuring that the founding investors of the business had the passion, expertise, track record and experience to bring the concept to life. Enter former colleagues Paul Fourie, William Egbe, Rute Moyo and Alex Cummings. All had retired within one year of each other, agreeing that a vehicle should be made to house their mutual interest in the consumer packaged goods space.

Work began with a set of investment principles and the identification of a pipeline of opportunities where the team’s experience and networks could add value to assets across Africa. IncuBev’s pioneers soon realised that they had stumbled upon a niche, untapped area of the market - the opportunity to network, scale and accelerate food and beverage businesses across the continent; incubating them to thrive and grow. Hence, the origin of the name: IncuBev. Over the past three years, IncuBev has broadened its network and partner base and is well-positioned to continue to make a significant economic impact across Africa over the next 10 -15 years.

The IncuBev Team

Our executive team members collectively bring with them years of experience in the pan-African food and beverage sectors; utilising their complementary skills and expertise to catalyse sustainable business growth and create successful brands across emerging market segments.

Alex Cummings | Founding Shareholder and Executive Chairman | IncuBev

Alex Cummings

Founder and Chairman
CIH Group, Ltd

B.S. in Finance and Economics -
Northern Illinois University

MBA (Finance) - Clark Atlanta
University

Executive Team

In his role at IncuBev, Alex focuses on guiding strategy development and governance. As Chairman of IncuBev, Alex provides access to his networks across Africa and serves as a critical interface between internal and external stakeholders. He was most recently the Executive Vice President and Chief Administrative Officer (CAO) of The Coca-Cola Company, responsible for leading corporate strategy and the following technical functions: Legal, Human Resources, R&D, Innovation, Quality, Supply Chain, Procurement, Strategic Planning and Information Technology, amongst others.

Alex has fulfilled a number of roles at The Coca-Cola Company, including Regional Manager,
President of the Company's North & West Africa Division and President and Chief Operating Officer of the Africa Group, responsible for the Company's operations across a total of 56 countries and territories across the continent. In that role, Alex more than doubled the contribution of the Africa business to The Coca-Cola Company over a five-year period.

Prior to this, Alex held several positions with The Pillsbury Company in the U.S. In his last role as Vice President of Finance for Pillsbury International, he had financial responsibility for growing a $1.2 billion international branded food business with operating companies in 16 countries.

Executive Team

Alex Cummings | Founding Shareholder and Executive Chairman | IncuBev

Alex Cummings

Founder and Chairman
CIH Group, Ltd

B.S. in Finance and Economics -
Northern Illinois University

MBA (Finance) - Clark Atlanta
University

In his role at IncuBev, Alex focuses on guiding strategy development and governance. As Chairman of IncuBev, Alex provides access to his networks across Africa and serves as a critical interface between internal and external stakeholders. He was most recently the Executive Vice President and Chief Administrative Officer (CAO) of The Coca-Cola Company, responsible for leading corporate strategy and the following technical functions: Legal, Human Resources, R&D, Innovation, Quality, Supply Chain, Procurement, Strategic Planning and Information Technology, amongst others.

Alex has fulfilled a number of roles at The Coca-Cola Company, including Regional Manager,
President of the Company's North & West Africa Division and President and Chief Operating Officer of the Africa Group, responsible for the Company's operations across a total of 56 countries and territories across the continent. In that role, Alex more than doubled the contribution of the Africa business to The Coca-Cola Company over a five-year period.

Prior to this, Alex held several positions with The Pillsbury Company in the U.S. In his last role as Vice President of Finance for Pillsbury International, he had financial responsibility for growing a $1.2 billion international branded food business with operating companies in 16 countries.

Paul Fourie | Founding Shareholder and Executive Director | IncuBev

Paul Fourie

Founding Shareholder
and Executive Director

B. Business Science (Hons) and MBA (Finance) - University of Cape Town

Post Grad - Harvard University

Paul is a Managing Partner at IncuBev, responsible for the company’s interests across Southern and East Africa. Paul spearheaded the development of the initial company strategy, and helped identify and lead the platform acquisition for the company’s Africa business. Before joining IncuBev, Paul was the Senior Vice President - Strategy and Business Planning at Coca-Cola International. In this position, he was responsible for guiding the development of the Company’s business in all geographies outside of North America and for leading strategic projects.

Paul entered the Coca-Cola System as Group Marketing Services Manager for ABI, the Company’s largest African bottler in 1992. He then joined The Coca-Cola Company in South Africa in 1994, where he held roles of increasing responsibility until his appointment as Senior Region Manager/VP for South Africa in 1998. He joined Coca-Cola Sabco in 2001 as Group Executive Director and was then promoted to Chief Operating Officer for Sabco’s bottling interests in Central Africa and Asia Pacific.

In addition, he served as Chairman of BevServ, an in-house management consulting company offering Sabco and other emerging/developing market bottlers supply chain, route to market and market execution development services. Paul was also a Director at Dataflo - a joint venture IT services company between Coca-Cola Sabco and Dimension Data.

Bill Egbe | Founding Shareholder and Executive Director | Incubev

Bill Egbe

Founding Shareholder
and Executive Director

B.Sc. in Electrical Engineering and
MBA - Howard University MBA

Post Grad - University of Pennsylvania: Wharton & Emory University

Bill has almost thirty years’ experience in the sector, spanning various leadership roles within American and British multinational companies, operating across North and South America, Europe, Africa, the Middle East and South-East Asia. At IncuBev, Bill focuses on West Africa and has overall responsibility for the company’s sustainability strategy, focused on driving women and youth empowerment and enhancing education in Africa.

With a background in engineering, Bill spent almost 20 years in general management and executive roles within The Coca-Cola Company, including that of President of Coca-Cola’s business in sub-Saharan and Southern Africa. Here, he led efforts to leverage South Africa’s hosting of the 2010 FIFA World Cup, Coca-Cola’s sponsorship of the event and the 25 country FIFA Trophy Tour. Prior to this, Bill fulfilled various engineering, finance, marketing and management positions at AT&T, British Petroleum and the Eastman Kodak Company.

In addition, Bill has broad governance and oversight expertise built from serving as non-executive director or board member for a multitude of companies and NGOs in Europe and Africa over the past 15 years. These include Africare and the World Economic Forum (WEF). He is currently a board member and non-executive director of Tana Africa Capital (Mauritius) and a board trustee of the Jacobs Foundation (Zurich, Switzerland).

Rute Moyo | Founding Shareholder and Executive Director | IncuBev

Rute Moyo

Founding Shareholder
and Executive Director

Masters in Industrial and
Occupational Psychology

Post-grad qualifications from
UCT, Emory and Wharton

At IncuBev, Rute focuses on Central Africa and provides guidance around the company’s BEE interests in South Africa. Rute is currently founder and CEO of Remoggo PCC, a private equity company with interests in FMCG; agriculture and agro-processing; and mining and mining services in Zimbabwe and the SSA region. Before this, he was a shareholder and executive of Shanduka Group (a bottling group within The Coca-Cola Company) where he founded the FMCG division. In this capacity, he was responsible for driving the acquisition and operation of the smallest, but best performing of Coca-Cola’s four bottling groups in South Africa and for identifying, successfully negotiating and purchasing McDonald’s South Africa operations. He also established the first black controlled and second largest master franchise arrangement worldwide.

Prior to this, Rute fulfilled a number of roles within Coca-Cola from 1992 to 2006, including the setting up of satellite offices across Africa, Operations and Region Manager for the Africa Group, Director of Strategy and Business Development SSA, Director for Bottling Operations for East and Central Africa and Managing Director for Schweppes Zimbabwe.

Rute’s current directorships, in addition to IncuBev, include Remoggo (Mauritius) PCC, Retail AfricaRetse, Outsourcing OK Zimbabwe and FBC Holdings, amongst others.

Ronald Kers | Founding Shareholder and Non-Executive Director | IncuBev

Ronald Kers

Founding Shareholder
and Non-Executive Director

MBA - Schülich School of Business, Toronto, Canada

Industrial Engineer - Technical University, Rijswijk, The Netherlands

Advisory Board

Bringing with him decades of experience in the FMCG sector, Ronald Kers is a Non-Executive Director with extensive international experience. He is currently the Group CEO of 2 Sisters Food Group, the UK’s largest food manufacturer (turnover > £ 3.08Bn). Prior to this, he was CEO at Unternehmensgruppe Theo Müller (turnover > £ 6.08Bn and one of the top 10 dairy companies worldwide) and CEO at Müller UK and Ireland Group, helping to position the company as the biggest all-round dairy company in the UK.

Ronald has also worked for global food company, Nestle. Here, he was in in charge of the Global Chilled Dairy and Juices strategic business unit, and subsequently fulfilled other roles mainly in the European dairy business. In addition, Ronald spent a number of years at leading FMCG company, Procter and Gamble, focusing on marketing brand management, product innovation and market expansion.

He is fluent in English, Dutch and German and has working knowledge of French.

Advisory Board

Ronald Kers | Founding Shareholder and Non-Executive Director | IncuBev

Ronald Kers

Founding Shareholder
and Non-Executive Director

MBA - Schülich School of Business, Toronto, Canada

Industrial Engineer - Technical University, Rijswijk, The Netherlands

Bringing with him decades of experience in the FMCG sector, Ronald Kers is a Non-Executive Director with extensive international experience. He is currently the Group CEO of 2 Sisters Food Group, the UK’s largest food manufacturer (turnover > £ 3.08Bn). Prior to this, he was CEO at Unternehmensgruppe Theo Müller (turnover > £ 6.08Bn and one of the top 10 dairy companies worldwide) and CEO at Müller UK and Ireland Group, helping to position the company as the biggest all-round dairy company in the UK.

Ronald has also worked for global food company, Nestle. Here, he was in in charge of the Global Chilled Dairy and Juices strategic business unit, and subsequently fulfilled other roles mainly in the European dairy business. In addition, Ronald spent a number of years at leading FMCG company, Procter and Gamble, focusing on marketing brand management, product innovation and market expansion.

He is fluent in English, Dutch and German and has working knowledge of French.

Kodwo Atta-Mills | Non-Executive and Director | IncuBev

Kodwo Atta-Mills

Non-Executive
Director

Degree in Economics -
Georgetown University

MBA - Harvard Business School

Kodwo is currently the founder and CEO of sub-Saharan African investment firm, Invictus Africa Group, providing fundraising and investment banking counsel at IncuBev. Prior to this, he served as acting CEO and a co-founder of Shanduka Group, responsible for a multi-industry portfolio of investments in excess of $1 billion. He also led Shanduka’s R300 million private equity fund, Shanduka Value Partners Fund I.

Kodwo has extensive expertise in the field of sourcing, structuring, implementing and monitoring various private equity investments in African markets and has significant investment banking experience, having worked at Donaldson, Lufkin & Jenrette Inc and African Merchant Bank. He currently has a number of directorships including Invictus Africa Group, Shanduka Group and Stanbic Bank Ghana, the Ghanaian subsidiary of the Standard Bank Group of South Africa.