Micro, small and medium-sized enterprises (MSMEs) account for 80% of Africa's businesses, while the circular economy in Africa has the potential to create 11 million jobs.
Upcyclers, a web-based marketplace digitalizing the e-waste value chain, is a Ghanaian enterprise selected as one of 30 beneficiaries in the first cohort of the African Development Bank-supported AfriCircular Innovators Programme
The AfriCircular Innovators Programme, supported by the African Development Bank, has chosen 30 small and medium enterprises to receive both financial backing and technical support aimed at enhancing circular economy initiatives (https://apo-opa.co/3SZxikc). This first cohort, which includes participants from Cote d’Ivoire, Ghana, and Rwanda, engaged in an online onboarding session on August 9, 2024.
Funded by the African Development Bank's Africa Circular Economy Facility (ACEF) and executed in collaboration with the African Circular Economy Alliance (ACEA), the AfriCircular Innovators Programme is designed to promote innovative solutions in the circular economy that contribute to sustainable and inclusive development. Micro, small, and medium enterprises (MSMEs) account for 80 percent of businesses in Africa, and the circular economy has the potential to create 11 million jobs across the continent.
The 30 selected enterprises will receive assistance to expand their circular initiatives within five key sectors identified by ACEA as having significant potential for job creation and economic development: packaging, food systems, built environment, electronics, and fashion and textiles.
Among the beneficiaries are companies focused on innovative solutions such as smart energy metering, utilizing coconut husks to revolutionize construction, converting plastic waste into durable building materials, and digitizing the collection and processing of electronic waste.
One notable participant is Ndintambwe Feeds Limited, a Rwandan firm that produces cost-effective animal feeds using insects and maggots as a sustainable alternative to traditional soybean and fishmeal.
Speaking at the event, the founder, Jean Bosco Nshutiyimana said, “As an SME, we face numerous challenges. 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."
Koumbem Fatou Emilienne, representative of Siboré Luxury Hair, another beneficiary, said, “Joining AfriCircular's Innovators Program offers a valuable opportunity for Siboré Luxury Hair, aligned with our commitment to sustainability. Through this program, we will benefit from the expertise and resources needed to optimize our production processes, and reduce waste and improve energy efficiency. Financial support and access to cutting-edge technologies will strengthen our production capacity and positive environmental impact.”
The AfriCircular Innovators Programme aligns with the African Development Bank's Jobs for Youth in Africa (JfYA) Strategy. With Africa’s youth population set to double to over 830 million by 2050, harnessing this demographic dividend is vital for economic growth, against a backdrop of persisting high unemployment and underemployment.
ACEF, as the sole Multi-Donor Trust Fund dedicated to mainstreaming the circular economy in Africa, strategically finances initiatives that drive inclusive and green growth, optimize resource efficiency, foster innovation, and create sustainable job opportunities.