Coca-Cola has stated that the tough economic environment led to the decision to shift from vouchers and holiday trips to cash rewards. Although the country’s inflation has decreased from highs of eight percent in May last year to 4.6 percent in June this year, the microeconomic environment remains challenging, with businesses and households still facing low purchasing power and reduced earnings amid high costs of goods.
Through its #KachingChingnaCoke promotion, the company aims to distribute Sh163 million to over two million winners by the end of the campaign in August. So far, more than 1.3 million Kenyans have won a total of Sh122 million in Coca-Cola’s Kaching Ching 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.
Coca-Cola Beverages Africa (CCBA) has unveiled a comprehensive plan to enhance sustainability by increasing the use of recycled content in packaging and improving water management practices. This announcement coincides with the company’s main shareholder, Coca-Cola, planning to invest up to $175 million (Sh22.7 billion) in Kenya over the next five years, contingent on the business achieving its anticipated growth targets in the country.
CCBA’s initiative is part of a broader effort to build resilience and address current and future environmental challenges while fostering positive change globally, according to management.
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.
