This paper sets out to review the activities of The Coca-Cola Company in Africa vis-à-vis the HIV/AIDS epidemic within the context of corporate social responsibility (CSR). Before delving into the details of the case, it reviews the CSR concept and presents the various arguments for CSR. The paper further presents the terrible picture of HIV/AIDS in Africa; pointing out that the virus affects Coca-Cola’s employees, consumers and other stakeholders. Arguing that investing in HIV/AIDS programs in Africa is a good investment (strategic CSR), I further explore why the company has had bad press about its HIV/AIDS program in Africa. The paper also proposes that the company makes use of the event study analysis (ESA) technique in measuring the success of HIV/AIDS program in Africa. It concludes with suggestions on how The Coca-Cola Company and other large multinational corporations should approach strategic CSR as well as proposing further research.