Coca-Cola empowers over 6 million women entrepreneurs globally
Coca-Cola has delivered on its decade-long drive to enable the economic empowerment of 5 million women entrepreneurs, the company has announced.
The initiative known as 5by20® surpassed the ambitious goal announced in 2010 on the margins of the United Nations General Assembly by then Chairman and CEO Muhtar Kent.
To date, 5by20 has reached more than 6 million women entrepreneurs—from fruit farmers, retailers and restaurant owners, to artisans, recyclers and distributors—through access to business skills training, financial services, peer networks, mentors and other resources.
5by20 set out to help women entrepreneurs overcome social and economic barriers to business success—while creating thriving, sustainable communities. The vision was rooted in the belief that investing in women, who are pillars of their communities, creates a ripple effect of economic growth and sustainable change.
James Quincey, Chairman and CEO, Coca Cola: “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.”
According to a 2018 International Monetary Fund report, women’s economic empowerment boosts productivity, economic diversification, income equality and other positive outcomes.
Bea Perez, global chief communications, sustainability and strategic partnerships officer, The Coca-Cola Company: “Above all, what we found through 5by20 is that when women have access to opportunity, there is no limit on what can be accomplished,”