The aim is to support small and micro business outlets across the country to recover and reopen after the COVID-19 impact on the economy that saw most of them lose revenue and close.
A total of 18,000 trade outlets across the country will benefit from this initiative by receiving personal protective equipment including masks and faceshields, handwashing jerrycans, sanitizers, and garden furniture to enable them to enforce the required social distancing for COVID-19 prevention.
“Over the last few months, we have been focusing on the health and safety of our employees and communities. We are now extending our support to local economies and micro-small businesses. The closure of the economy at the time was the correct action to take to curb the spread of the virus, and we commend the Government of Kenya. To help those who have always been at the heart of our social fabric but had to temporarily close, we as a system, have committed Kshs 125 million towards supporting our trade partners and waste collectors, eateries, restaurants, bars and kiosks.”
AMREF Health and Safety Training
“We are delighted to be part of this noble initiative that will contribute to ensuring that our economy starts to grow again and that businesses comply to national health and safety guidelines. Our role in this initiative is to empower traders with the knowledge that enables them to operate safely while ensuring they maintain a safe space for their customers. This will be done through an easy to understand training curriculum and application of a set standard of operating procedures,” said Dr. Meshack Ndirangu, Amref Health Africa in Kenya Country Director.
Loans from ABSA Kenya
Absa, the financial business partner will facilitate access to business loans to the traders that require working capital to revive their enterprises, including restocking.
Absa Regional Corporate Director for East Africa, James Agin said;
“We will offer small and medium businesses unsecured loans of up to 10 million shillings which is the highest in the market, as well as LPO financing and invoice discounting of up to 50 million shillings amongst other benefits. We will also offer insurance and asset-based financing. This will allow the distributors and retailers the flexibility to accept extended payment terms from manufacturers as well as increase their credit should they require it.”
Laikipia County Support
Hon. Ndiritu Muriithi, Governor, County Government of Laikipia, emphasized:
“The retailers under this Coca-Cola scheme operating in Laikipia are eligible for business loans to help them restock and accelerate recovery from COVID-19 pandemic and will benefit from County Government of Laikipia’s interest cost subsidy of up to 5%. The county has already committed Kshs 123 million to the Economic Stimulus program, of which Kshs 73 million will cater for the interest cost subsidy.”
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 and we are already rolling out some initial support that will be augmented by what we are officially launching today. The response from our trade partners has so far has been very positive, and we hope that in the coming months they will regain consumer confidence and record more business,” said Xavier Selga, Managing Director, Coca-Cola Beverages Africa – Kenya.