Plastics recycler receives funding to grow operations in Africa

DOB Equity, a Dutch investor in East Africa, and London-based Global Innovation Fund (GIF), in partnership with the consumer brands company Unilever, have invested in Mr. Green Africa, a Kenya-based plastics recycler.

Mr. Green Africa engages more than 2,000 previously marginalized waste collectors and sells more than 2,000 metric tons of “fairly sourced” recycled materials for local and international markets, DOB Equity says in a news release announcing the investment. The company purchases polyethylene terephthalate (PET), high-density polyethylene (HDPE) and polypropylene (PP), as well as old corrugated containers (OCC). 

The investment will allow Mr. Green Africa to expand and build on its aggregation model that enables it to scale the trade of recyclables while building a strong and reliable supplier network. It will lead to increased processing capacity to produce higher value recycled products in larger volumes to supply consumer goods companies, DOB Equiity says.

Keiran Smith, co-founder and CEO of Mr. Green Africa, says, “We are very pleased and looking forward to working with DOB Equity and Global Innovation Fund on the expansion of Mr. Green Africa. We believe we are in the right place, at the right time, to create a blueprint for emerging markets to provide a circular solution to the plastic challenge and need partners like DOB Equity and Global Innovation Fund that see this opportunity.”

Brigit van Dijk – van de Reijt, CEO of DOB Equity, says, “DOB Equity is keen to support companies focusing on waste reduction and recycling and Mr. Green Africa is DOBs’ second investment in the sector following a recent investment in Zanrec, https://www.zanrec.com/ a waste management company on Zanzibar (Tanzania).”

Saskia van der Mast, investment director of DOB Equity, adds, “We expect the demand for recyclable materials in emerging markets such as Kenya to overtake that in developed countries, driven by the fact that Kenya is a growth market for these companies, as well as the negative effect of plastic packaging being more evident.”

She adds, “With its unique sourcing infrastructure and focus on quality, we believe Mr. Green Africa can work together with companies and provide an example for the plastics value chain globally.”

“This is a great investment for GIF – an innovative business with demonstrable returns in terms of financial and social impact,” says Alix Zwane, GIF CEO. “Our funding will support its growth through which it will deliver real change. We look forward to engaging further with the team to realize the potential of this business.”