The tough economic environment informed the decision to shift from vouchers and holiday trips to cash rewards, beverages company Coca Cola now says.
While the country’s inflation has eased from highs of eight per cent in May last year to 4.6 per cent in June this year, the microeconomic environment remains a challenge where businesses and households are still grappling with low purchasing power and reduced earnings, amid high cost of goods.
The company, under its #KachingChingnaCoke promotion aims to distribute Sh163 million to over two million winners by the end of the campaign in August.
Over 1.3 million Kenyans have so far won a total of Sh122 million in Coca-Cola’s KachingChing na Coke promotion, with nine winners becoming instant millionaires as the campaign enters its ninth week.
“In previous years, we have offered trips and shopping vouchers. Considering the difficult economic times that Kenyans are facing, we decided to not only offer cash prizes but triple our previous reward amounts to directly impact our consumers’ lives. We know that this will directly transform the lives of our customers,” Country Manager of Coca-Cola Kenya, Theuri Chege, said ina statement yesterday.
“We have been awarding Sh1 million to one grand winner each week, 35 winners of Sh10,000, and thousands of winners between Sh50 and Sh100 daily during the campaign. So far, we have nine millionaires and expect to have four more by the end of the campaign in August.
The millionaire winners so far have been drawn from Nairobi, Kajiado, Mombasa, Homa Bay, and Kericho counties.
Phoebe Nafula was the first winner of the Sh1 million weekly prize when the promotion began in May this year.
“As a company, we are driven by our purpose to refresh the world and make a difference. We hope these cash prizes can be a catalyst for transformation in the lives of our consumers, which is the essence of this campaign,” Chege said.
Meanwhile, Coca-Cola Beverages Africa (CCBA) has announced a comprehensive plan to enhance sustainability by increasing the use of recycled content in packaging and improving water management practices.
This comes as main shareholder-Coca-Cola plans to grow its investment in Kenya by up to $175 million (Sh22. 7 billion) over the next five years, should the business achieve its anticipated growth targets in the country.
The initiative by CCBA is part of the company’s broader effort to build resilience and address both current and future environmental challenges, while fostering positive change for the globe, management said.
To promote a circular economy, the company aims to reduce waste and carbon emissions by incorporating more recycled content into its packaging, expanding the use of refillable bottles, and actively participating in Coca-Cola's World Without Waste initiative to collect and recycle packaging.
