AfDB-Backed AfriCircular Innovators Programme Selects 30 African SMEs to Drive Circular Economy Growth
The African Development Bank (AfDB)-supported AfriCircular Innovators Programme has selected 30 Small and Medium Enterprises (SMEs) from Cote d’Ivoire, Ghana, and Rwanda to receive crucial financing and technical assistance to enhance their circular economy initiatives.
This marks the inaugural cohort of the program, which aims to foster sustainable and inclusive growth through innovative solutions.
On Saturday, the AfDB announced that these selected enterprises 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 implemented in collaboration with the African Circular Economy Alliance (ACEA).
The initiative targets the support and scaling of circular economy projects across the continent, with a focus on generating economic growth and job creation. The AfDB highlighted that Micro, Small, and Medium Enterprises (MSMEs) constitute 80% of Africa’s businesses, underscoring the critical role they play in the continent’s economy.
The circular economy in Africa has the potential to create 11 million jobs, a figure that underscores the importance of initiatives like the AfriCircular Innovators Programme. The 30 selected enterprises are working within the five key sectors identified by ACEA for their significant potential in driving economic growth and job creation. These sectors include packaging, food systems, built environment, electronics, and fashion and textile.
Among the innovative projects supported by the program are enterprises developing smart energy metering systems, reimagining the construction industry by using coconut husks, transforming plastic waste into durable construction blocks, and digitalizing the collection and processing of electronic waste.
One of the selected businesses is Ndintambwe Feeds Limited, a Rwandan company that produces affordable and environmentally-friendly animal feeds using insects and maggots as alternatives to traditional soybean and fishmeal. The company’s founder, Jean-Bosco Nshutiyimana, expressed that while the company has faced significant challenges, including limited financial capacity and a lack of necessary skills to sustain a profitable recycling business without harming the environment, the support from the AfriCircular Innovators Programme offers a vital opportunity to overcome these obstacles.
The program’s support is expected to empower these SMEs to scale their circular initiatives, contributing to a more sustainable and resilient economic future for Africa.
