Only 33% of women have bank accounts in Nigeria. Here’s how Coca-Cola is solving this while protecting the environment

September 09

09:20 2021

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Viewed as Africa’s leading economic player, Nigeria is famed for its people’s industriousness amidst limiting challenges. However, these challenges become insurmountable for many who do not possess the means or technical expertise to shatter the glass ceiling or become financially independent.

Available data states that only 67.5 million (64%) of the 105.5 million adult population in Nigeria were financially included in the year 2020. In addition, large gaps in financial access remain for some of Nigeria’s most financially excluded groups. Women continue to be more financially excluded than men, with only 45% of women using formal financial services, compared with 56% of men. Additional data from PwC also states that only 33% of females have bank accounts compared to about 46% of males.

With COVID-19 exacerbating these developments, the need for intervention became even more important, as the government evidently needed support from the private sector while it continued to struggle in other areas such as wellbeing, climate change, among others.

One of such companies that have taken the mandate to help relieve these stress areas is Coca-Cola Nigeria, which supported multiple multi-faceted initiatives, most notably the Project Protect 10,000 Initiative implemented by the Initiative For The Advancement of Waste Management in Africa (W.A.S.T.E AFRICA), a non-governmental organisation promoting waste as a valuable currency for social good and economic inclusion.

Since the inception of the initiative, over 1,000 waste pickers have been supported with social and financial inclusion programs, with bank accounts opened for the beneficiaries – providing a gateway to a raft of financial services like payments, loans, remittances, and insurance. In addition, over 400,700kg of waste has been recovered across the target communities, as the company marches on with its goal to ensure a waste-free world.

Learn more about the project below:

Coca-Cola Ensures A World Without Waste Through The Project Protect 10,000 Initiative