Coca-Cola believes that improving women’s economic conditions enables the creation of more empowered communities. In 2010, the beverage company made a global commitment to empower 5 million women across its value chain by 2020. Today, on International Women’s Day, Coca-Cola announced that it has surpassed its global goal, enabling more than 6 million women through 318 programs across 100 countries. Here in the Philippines, Coca-Cola announced that it has successfully supported the economic empowerment of about 250,000 women retailers all over the Philippines—this represents 21% of the total universe of small sari-sari store owners in the country.
“Through this program over the last decade, we’ve seen women creating a ripple effect of change. As we move forward in this new decade, we will continue our commitment to fostering gender equality and support women as they challenge the barriers and the Kababae Mong Tao (Unlady-like) narratives in our society,” says Tony del Rosario, president of Coca-Cola Philippines and vice president for franchise operations of the East Region for Coca-Cola ASEAN and South Pacific. “This is good for society, good for business, and good for socio-economic progress.”
A decade ago, the Philippines was selected as one of a handful of global lead markets to pilot the 5by20 initiative. Realizing that the full potential of women can only be achieved by investing and creating an enabling environment where women can succeed, Coca-Cola Philippines has made incredible strides in empowering and advancing women across its value chain. Over the last decade, the 5by20 program has reached all 17 regions and 81 provinces of the country, which includes sari-sari store owners, carinderia owners, repatriated OFWs, artisan women, and women in operations. For those in Coca-Cola’s external value chain, the company provides business skills training, financial services, and peer mentoring support.
Women as the best investment to spur economic growth