Home Business Coca-Cola Kenya ploughs Sh125 million into Kenya’s economic recovery

Coca-Cola Kenya ploughs Sh125 million into Kenya’s economic recovery

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The Coca-Cola System in Kenya, in partnership with the County Government of Laikipia, Absa and Amref Health Africa have launched an initiative to support small and micro businesses across the country to recover and reopen.

The Covid-19 pandemic had a huge impact on the economy that saw most of them lose revenue and close.

The support is targeting 18,000 trade outlets across the country who will receive personal protective equipment, handwashing jerrycans, sanitizers, and garden furniture to enable them to enforce the required social distancing.

They will also be provided with communication and awareness materials related to COVID-19 safety and precautions.

“We are extending our support to local economies and micro-small businesses to help those who have always been at the heart of our social fabric but had to temporarily close,” said Phillipine Mtikitiki, Vice President and General Manager, Coca-Cola East & Central Africa Franchise

The franchise committed Sh125 million towards supporting its trade partners and waste collectors, eateries, restaurants, bars and kiosks.

Under the initiative, the traders and their staff will also benefit from COVID-19 health and safety training provided by Amref Health, to help them adhere to business opening and operating guidelines as per government directives.

Absa, the financial business partner will facilitate access to business loans to the traders that require working capital to revive their enterprises, including restocking.

“Under this partnership, the bank shall support affected businesses across the entire value chain with revolving short-term working capital financing to bridge any cashflow challenges,” said Absa Regional Corporate Director for East Africa, James Agin.

The initiative has partnered with the County Government of Laikipia’s Economic stimulus programme to provide trade finance to the county’s distributors and retailers.

Small traders and waste collectors across the country have experienced unprecedented losses occasioned by the effects of the coronavirus that continues to spread across the world.

These losses have subjected households and families, and our environment to numerous challenges.

“We will continue to prioritise initiatives that support our traders as they reopen for business ,” said Xavier Selga, Managing Director, Coca-Cola Beverages Africa