DOB Equity supporting Mr Green Africa in the recycling of plastic waste
Posted on : Tuesday, 24th November 2020
DOB Equity, an impact firm, is investing additional funds into a Kenyan-based plastic waste recycling company, Mr Green Africa. Mr Green Africa will be able to expand its operations in Kenya with this second investment from the family firm.
The plastic waste recycling industry is taking shape in Kenya. Mr. Green Africa has just earned funds to grow his work in the region, one of the operators in this field. DOB Equity, an impact investor committed to Eastern African countries, provides funding. According to the Dutch family-owned business, its investment would allow the increasing demand for local and multinational recyclable products from Mr Green Africa.
Mr Green Africa has at least twenty-five collection points at Kenya's capital Nairobi, the plastic waste is exchanged for a fee. "Waste collection picker take advantage of different loyalty schemes and services provided by suppliers such as life and proficiency, nutrition and access to microcredits.. Other non-monetary benefits include the availability of protective equipment, such as gloves and boots, as well as tools and in certain cases, cell phones," Green Africa states.
The waste collected is made into a recycled product sold to plastics producers in order to reach their circular goals and save raw material (plastic) costs. Locals and even transnational corporations like the Dutch and British food firm Unilever are amongst Mr. Green Africa's customers.
DOB Equity is not Mr. Green Africa's first venture. The impact investment firm pumped funds into the recycling enterprise in August 2019. Its new funding would also improve waste management by introducing new technologies. This is a pilot project for customers that collects and transforms plastics on demand..
Mr. Green Africa was able to attract a new investor: Smollan, the multinational retail solutions firm, due to the increasing emphasis on customers. Smollan's skills and experience should play a key role in including consumer goods in the Green African network and in developing an entirely emerging market circular plastics economy," said DOB Equity.
