Dow invests in Mr Green Africa, a recycling company in Kenya
Mr Green Africa secured funding from DOW as part of its Series B fundraising round.
Mr Green Africa is a start-up plastics recycling company in Kenya that trade recyclables while achieving social and environmental impact. The company recycles locally collected plastic waste into high-quality post-consumer recyclates (PCR), sold to businesses at a competitive rate as substitutes for imported virgin plastics. The company works with informal waste pickers to further the diversion of plastic waste from dumpsites and the environment at large. Mr Green Africa is the only recycling company on the continent to be a Certified B Corporation.
Dow's investment in the company is expected to enable the recovery and recycling of approximately 90 kilotons (kt) of plastic waste from informal dumpsites over the next four years. Additionally, Dow intends to collaborate with Mr Green Africa to develop more traceable, fair, high-quality PCR that can be used in the production of new flexible plastic packaging.
According to the world bank, Kenya's capital Nairobi generates an estimated 2,400 tons of solid waste every day, of which 20% is plastic. Only 45% of the city's garbage is recycled, repurposed, or transformed. The inadequate garbage management and increasing population have increased the likelihood of environmental degradation.
With the funding from Dow and other investors, Mr Green Africa intends to grow its activities within Kenya and expand to other African countries. The firm aims to foster more positive change in local communities, address inadequacies in existing waste management systems, and close the loop on plastic waste across Africa.
When fully implemented, the investment is estimated to add around 200 direct jobs, positively influence the lives of 5,000 waste pickers, and engage more than 250,000 customers in source separation initiatives.
According to Marco ten Bruggencate, Dow's Commercial Vice President for packaging and Specialty Plastics in EMEA, "Dow is fully committed to advancing the circular economy for plastics in Africa and the rest of the world to mitigate the negative impacts on the environment, consistent with global sustainability goals".
With Dow's partnership and investment in Mr Green Africa, the company can drive and expand the collection and recycling of plastics and production of flexible packaging.
FullyGreen Newsletter
Join the newsletter to receive the latest updates in your inbox.