The African Development Bank (AfDB)-supported AfriCircular Innovators Programme has selected 30 Small and Medium Enterprises (SMEs) to receive financing and technical assistance to scale up circular economy initiatives. The bank in a statement on Saturday, said that this inaugural cohort, drawn from Cote d’Ivoire, Ghana and Rwanda, participated in its online onboarding event on August 9. 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).
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 sai.