GreenTec Capital Partners backs Ivorian waste management company
Posted on: 26 March, 2020 at 9:16 AM
GreenTec Capital Partners has made an investment in Coliba, a Côte d’Ivoire-based recycling and waste management company.
Over 5 million tonnes of waste are generated each year in Côte d’Ivoire with less than half of the current waste being collected, and only about 3% is being recycled. Over 90% of actors in the plastic waste economy operate in the informal sector on the fringe of the recycled plastics value chain. Coliba’s platform solves these issues by offering formal employment opportunities in waste management as well as an easy solution for households to earn rewards for recycling.
Coliba applies principles of the circular economy to tackle the problem of plastic waste in Côte d’Ivoire. Leveraging a technological solution in the form of a mobile app to facilitate sourcing. Coliba’s app lets users earn airtime or discount on fast-moving consumer goods (FMCG) by recycling. The app tracks users’ bottle collection progress and efficiently dispatches agents for collection. The collected plastic bottles are then cleaned, sorted, and processed into PET pellets and flakes that are then sold regionally or internationally to be turned into new plastics-based goods.
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