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technology 25 Nov 2019

Coca-Cola surpasses its 5by20 global initiative on Women Empowerment

By Waiswa Wafula

The Coca-Cola Company recently celebrated achieving its ambitious global initiative 5by20, an initiative aimed to enable the economic empowerment of more than 5 million women around the world by 2020. This initiative was implemented in 2010 across 33 countries in Africa with local initiatives being implemented to the common goal.

5by20 aimed at enabling women entrepreneurs to overcome the barriers they face through programs such as business skilled training courses, access to financial services and access to support networks of peers and mentors.

 “Today, we celebrate surpassing our goal to reach 5 million women, but we know that there is still work to be done. Women entrepreneurs continue to face major hurdles hindering their successes, and we acknowledge that our work must therefore continue, particularly given the significant socio-economic disruption created by the pandemic in so many communities around the world,” said Patricia Obozuwa, Vice-President: Public Affairs, Communication, and Sustainability Coca-Cola Africa.

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Currently more than 6 million women, across 100 countries, have been enabled and benefited from the initiative with 34% of these women crediting the ability to live and do business in Africa.

“By investing in women’s economic empowerment over the past decade, we have created shared value in hopes of a better shared future, enabling improved livelihoods for women, their families and their communities, while inclusively expanding our business. We are proud about the ripple effects that these programs have had on the on the millions of lives we have touched and will continue to have over the years to come,” added Obozuwa.

Nigeria has also benefited through the Educating Nigerian Girls in Nigeria Enterprise (ENGINE) value program launched by Coca-Cola. The initiative has seen nearly 13,000 young girls and women benefit from it as it aims to strengthen the educational and economic opportunities for the Nigerian girl Child.