With millions of women still excluded or underserved by traditional financial systems, this program is designed to provide solutions that particularly meet their unique needs, enabling them to grow their businesses and achieve financial independence.

To drive this huge impact, Accion is partnering with financial institutions such as Sajida in Bangladesh, Fidelity Bank in Ghana, SEWA (Self-Employed Women’s Association) in India, and Techreo in Mexico. 

Together, they will work to break down systemic obstacles, reduce gender inequalities, and expand financial access for women entrepreneurs worldwide.

Many financial service providers lack sustainable strategies to serve women customers, and existing products often do not meet their specific needs. This new program aims to create new solutions that can be replicated by other financial service providers, helping to advance women’s financial inclusion globally.

Accion’s team of experts will work with each institution on improving internal processes to promote gender equity, developing credit risk models, designing new products, and implementing strategies for sex-disaggregated data. 

New solutions are expected to include creating a digital profile for women who lack access to formal financial services, scaling a resilience fund in response to climate shocks, conducting market research to better understand social norms that prevent women from accessing and using financial services, and designing programs designed to address the financial needs of young women.

The 12-month program is supported by The Coca-Cola Foundation. It builds on Accion’s work connecting local ecosystem actors with the latest technologies to test, improve, and scale responsible financial solutions that enable small business owners and their families to strengthen their economic well-being.

Liza Guzmán, vice president of Customer Strategy and Women’s Economic Empowerment at Accion Advisory: “Over one billion women globally still lack access to the essential financial services that can help them build successful businesses and invest in their futures. Working with four partners – all leaders in financial inclusion in their countries – Accion will bring its deep experience helping companies provide innovative and affordable financial solutions to small businesses and hard-to-reach customers in emerging markets.”

Carlos Pagoaga, president of The Coca-Cola Foundation, noted: “We are building on our rich legacy of supporting women’s economic empowerment programs to provide underserved women with access to economic opportunities, which will ultimately create shared value with the goal of a better collective future, enhancing the livelihoods of women, their families, and their communities.”

The grant, awarded through the #StoptheSpread Fund, administered by the Coca-Cola Foundation is valued at $350,000 and will focus on increasing vaccine uptake and logistic support in key states where there has been established vaccine hesitancy in Nigeria.

IFRC will work with local Red Cross Society teams and volunteers to execute the program.

“This donation will enable the Nigerian Red Cross access some of the hardest to reach communities in Nigeria. If we are to have any chance at stopping COVID-19 transmission, we must ensure that we make it possible for these communities to not just understand the danger this virus portends, but also through personal protection and access to vaccination.”, said Abubakar Kende, Secretary General, Nigerian Red Cross Society.

The mobilization campaign will see the Nigeria Red Cross creating public enlightenment messages about the benefits of taking the vaccine as well as helping interested persons find a vaccination site closest to them.

Red Cross volunteers have already commenced Risk Communication and Community Engagement activities in communities in Bauchi, Bayelsa, Kogi, Ebonyi and Edo states.

As part of the intervention and community advocacy, the Red Cross Volunteers will provide useful information to members of communities about the benefits of the vaccine, quell rumors and myths associated with COVID-19, and provide clear answers to questions relating to the pandemic as well as direct community members to medical facilities where they can get vaccinated safely.

The campaign backed by The Coca-Cola Foundation will run until October 2022.