By Enyichukwu Enemanna
The African Development Bank (AfDB) through its AfriCircular Innovators Programme has selected 30 Small and Medium Enterprises (SMEs) from Cote d’Ivoire, Ghana and Rwanda for disbursement of fund and technical assistance to scale up circular economy initiatives.
Heritage Times HT reports that the AfriCircular Innovators Programme is funded by the AfDB’s Africa Circular Economy Facility (ACEF) and implemented in partnership with the African Circular Economy Alliance (ACEA).
The bank in a statement on Saturday, said that this inaugural cohort from the three countries participated in its online onboarding event on August 9.
According to the statement, the programme aims to support innovative circular economy solutions that foster sustainable and inclusive growth.
It said that Micro Small and Medium Enterprises (MSMEs) represented 80 per cent of Africa’s businesses, while the circular economy in Africa had the potential to generate 11 million jobs.
“The 30 selected enterprises will receive support to scale their circular initiatives within the five big bets, the sectors identified by ACEA for their high potential in job creation and economic growth.
“They include packaging, food systems, built environment, electronics and fashion and textile.
“Among the beneficiaries are enterprises developing smart energy metering, reimagining the construction industry using coconut husks, transforming plastic waste into durable construction blocks, and digitalising the collection and processing of e-waste,” it said.
The statement said Ndintambwe Feeds Limited, a Rwandan company that produces affordable animal feeds using insects and maggots as an environmentally-friendly alternative to soybean and fishmeal, was one of the selected businesses.
It quoted the founder of the company, Jean-Bosco Nshutiyimana, as saying that the company faced numerous challenges as an SME.
“The biggest ones include limited financial capacity to fully implement our project, and the lack of required skills to sustain a profitable recycling business without harming the environment,” Nshutiyimana said.
