Inside Capital Partners invests in Zambian waste recycling company
Posted on: 23 June, 2020 at 5:18 PM
Inside Capital Partners has announced the fifth investment of its first fund, Inside Equity Fund, into Alpha Polyplast Ltd, to drive the growth of the leading manufacturer of recycled PET strapping in Zambia.
Inside Equity Fund has committed to invest $2.75 million in Alpha to finance the doubling of its waste collection and processing capacity.
Founded in 2015, Alpha is the largest collector and aggregator of post-consumer PET bottles in the country and manufactures recycled PET strapping. Girish Sharma, CEO of Alpha Polyplast, has an extensive background in the recycling industry. With Inside’s contribution, it is projected that Alpha will reach its full capacity in the next three years, recycling over 3,000 tonnes of PET per year (the equivalent of 70 million bottles), further contributing to the reduction of plastic waste pollution.
Inside Capital Partners Zambia country director, Basil Nundwe said, “We are delighted to partner with a promising entrepreneur and growing company. This investment is a clear signal from Inside that the socially and environmentally virtuous business models that we target definitely have their place in our region. Indeed, among other benefits, this project will decrease plastic waste in Zambia, bring hard currencies in the country, reduce global carbon impact, create jobs, and generate financial returns for our investors.
“Furthermore, Alpha now has the opportunity to work with our other portfolio companies, in the same ecosystem, to maximise synergies and establish a truly innovative consolidation playbook in the waste management and recycling industry across the region to become a regional leader. In addition, we are convinced that we can bring value in terms of corporatising the business, financial engineering, developing export sales opportunities, and process improvements.”
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