The Coca-Cola Company today announced strong progress toward its goal to
enable the economic empowerment of 5 million women entrepreneurs across
the Coca-Cola value chain by 2020. The initiative, known as 5by20, is
expanding beyond its pilot programs in four countries to launch and
scale programs across a total of 12 countries: Brazil, China, Costa
Rica, Egypt, Haiti, India, Kenya, Mexico, Nigeria, the Philippines,
South Africa and Thailand. 5by20 is on track to reach 300,000 women by
the end of 2012.
Malehlohonolo Moleko of Vander Bjilpark, South Africa is a bakery owner, a shop owner and a mother. She participated in a 5by20 business skills training course and learned how to balance budgets, stock inventory and ultimately how to increase her business' revenue. (Photo: Business Wire)
By providing access to business skills, financial services, assets and
support networks of peers and mentors, 5by20 is helping women succeed as
entrepreneurs, while also creating thriving, sustainable communities.
"Working with and investing in women is one of the most powerful ways to
spur sustainable economic growth and development," said Muhtar Kent,
Chairman and CEO of The Coca-Cola Company. "I'm excited by the progress
we're making toward our goal to empower 5 million women. We are
transforming lives and communities, making a profound and lasting impact
on global issues and also growing our business."
Initially focused on four pilot countries - Brazil, India, South Africa
and the Philippines - the expansion of 5by20 into additional countries
demonstrates The Coca-Cola Company's continued commitment to testing,
learning and scaling programs in order to reach its ambitious women's
economic empowerment goal.
This expansion includes the launch of 5by20 in China in partnership with
All China Women's Federation to provide business skills to female
retailers, with the initial pilot program underway in Guangxi Province.
In Kenya, young women entrepreneurs are receiving business skills
training and retail assets to establish new enterprises in partnership
with TechnoServe. In Mexico, young women are receiving business skills
training and being trained fo their first job.
In addition several new 5by20 programs are a result of the partnership
The Coca-Cola Company and UN Women announced in September 2011.
"Women need more opportunities to participate fully and equally in the
workforce. Countless studies point to the fact that companies with a
higher share of women have improved results-higher levels of innovation,
productivity and profit margins," said Michelle Bachelet, UN Women
Executive Director. "UN Women supports women's economic empowerment as a
key priority to advance gender equality and improve the lives of women
around the world."
The Coca-Cola Company and UN Women's US$4 million partnership will
economically empower 40,000 women over three years in South Africa,
Brazil and Egypt. The two organizations are collaborating to provide
women with business skills training, leadership training and access to
financial assets. UN Women is the UN organization established as a
global champion for women and girls.
"We know that women's income goes directly to their children's education
and other family needs," adds Kristin Hetle, Director of UN Women's
Strategic Partnerships Division. "The collaboration between The
Coca-Cola Company and UN Women will benefit communities at large and
In Egypt, The Coca-Cola Company and UN Women are providing women
entrepreneurs with retail kiosks, business skills training and access to
mentors. In Brazil, the partnership is focused on reaching women
recyclers, artisans and community leaders throughout Coca-Cola's value
chain to provide leadership skill development and business skills
training. In South Africa, the two organizations are providing retailers
with business skills training, mentoring and guidance on networking with
"Women entrepreneurs around the world are faced with numerous barriers
to success," said Charlotte Oades, Global Director, Women's Economic
Empowerment, The Coca-Cola Company. "We believe providing access to
training, finance and support networks are the best ways to help women
overcome barriers, unlock their untapped potential and build their
business in a sustainable way."
In addition to the 5by20 initiative, The Coca-Cola Company supports
other women's economic empowerment efforts around the world. In June, as
part of our re-entry into Myanmar, the Company announced a US$3 million
grant from The Coca-Cola Foundation, the Company's charitable giving
arm, to Pact. The Company will work with Pact, a non-governmental
organization, to support women's economic empowerment and job creation
initiatives throughout the country through a program called WORTH. This
program will initially fund women interested in supporting a variety of
businesses, and Coca-Cola expects the program to eventually identify
women entrepreneurs interested in becoming independent shopkeepers and
distributors of Coca-Cola products.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the world's largest beverage
company, refreshing consumers with more than 500 sparkling and still
brands. Led by Coca-Cola, the world's most valuable brand, our Company's
portfolio features 15 billion-dollar brands including Diet Coke®,
Fanta®, Sprite®, Coca-Cola Zero®, vitaminwater®, Powerade®, Minute
Maid®, Simply®, Georgia® and Del Valle®. Globally, we are the No. 1
provider of sparkling beverages, ready-to-drink coffees, and juices and
juice drinks. Through the world's largest beverage distribution system,
consumers in more than 200 countries enjoy our beverages at a rate of
1.8 billion servings a day. With an enduring commitment to building
sustainable communities, our Company is focused on initiatives that
reduce our environmental footprint, support active, healthy living,
create a safe, inclusive work environment for our associates, and
enhance the economic development of the communities where we operate.
Together with our bottling partners, we rank among the world's top 10
private employers with more than 700,000 system associates. For more
information, visit www.coca-colacompany.com,
follow us on Twitter at twitter.com/CocaColaCo or visit our blog at www.coca-colablog.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20121126005654/en/
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