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The African Development Bank (AfDB)-backed AfriCircular Innovators Programme has chosen 30 Small and Medium Enterprises (SMEs) from Cote d’Ivoire, Ghana, and Rwanda to receive essential financing and technical support aimed at advancing their circular economy initiatives.
This selection marks the first cohort of the program, which is dedicated to promoting sustainable and inclusive growth across Africa through innovative circular economy solutions.
On Saturday, the AfDB announced that the selected SMEs participated in an online onboarding event on August 9. The AfriCircular Innovators Programme is funded by the AfDB’s Africa Circular Economy Facility (ACEF) and is being implemented in collaboration with the African Circular Economy Alliance (ACEA).
The initiative focuses on scaling circular economy projects throughout the continent, with the goal of spurring economic growth and generating employment. The AfDB emphasized the significance of Micro, Small, and Medium Enterprises (MSMEs) in Africa, noting that they make up 80% of the continent’s businesses, thereby playing a vital role in its economic landscape.
The circular economy in Africa holds the potential to create 11 million jobs, highlighting the critical importance of programs like the AfriCircular Innovators Programme. The 30 selected SMEs are operating within five key sectors identified by the ACEA for their substantial capacity to drive economic growth and job creation. These sectors include packaging, food systems, the built environment, electronics, and fashion and textiles.
Among the innovative projects supported by the program are enterprises focused on developing smart energy metering systems, revolutionizing the construction industry with the use of coconut husks, converting plastic waste into durable construction blocks, and digitalizing the collection and processing of electronic waste.
One notable enterprise, Ndintambwe Feeds Limited from Rwanda, is producing affordable and environmentally-friendly animal feeds using insects and maggots as sustainable alternatives to traditional soybean and fishmeal. The company’s founder, Jean-Bosco Nshutiyimana, highlighted that despite facing significant challenges, such as limited financial resources and the need for specialized skills to maintain a profitable and eco-friendly recycling business, the support from the AfriCircular Innovators Programme presents a crucial opportunity to overcome these hurdles.
The program’s backing is expected to enable these SMEs to scale their circular economy initiatives, thereby contributing to a more sustainable and resilient economic future for Africa.
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