FINCA Malawi and The Coca-Cola Company have joined forces to offer low-income women in several Malawian villages the opportunity to generate new, or additional, income through the sales of Coca-Cola beverages.
Through the partnership, Coca-Cola makes its products and sales merchandise available to qualifying FINCA clients who, in turn, start their own portable businesses in their local markets and neighborhoods. Merchandising equipment and materials include portable, insulated cooler boxes, umbrellas and ice. Qualified FINCA Malawi clients can apply to take a small loan that then allows them to access the products, and they’re on their way to generating additional income to support their families.
Mike Gama-Lobo, Vice President and Regional Director for FINCA Africa, said the Malawi subsidiary is more than happy that FINCA is partnering with Coca Cola in support of their Women Empowerment Initiative. “Through this effort, we’re able to provide women who have minimal incomes with the opportunity for financial development and independence,” Mr. Gama-Lobo said. “FINCA will ensure that financing is available so that our clients can access the type of funding that will help them grow their small businesses and maintain stable incomes to support their families, today and into the future.”
During the first four months of the partnership, more than 100 women have benefited from the initiative, and it continues to attract more women eager to participate. The project has been rolled out in Blantyre, Lilongwe and Mzuzu, and is intended to scale up to other parts of the country in 2013.