Mr. Green Africa, a Kenyan plastics recycling pioneer, has received a substantial round of funding from impact investors and key industry stakeholders to help it develop its business model across Africa.
Mr. Green Africa is a circular recycling company that has established a technology-driven plastics collecting approach that allows waste to be collected at the point of origin, bringing together informal waste workers, micro-entrepreneurs, and consumers in a formal value chain.
By utilising ethically sourced, locally generated Post Consumer Recyclate (PCR), the firm works closely with brand owners to achieve their sustainable packaging goals. Its objective is to transform trash into value in emerging areas, thereby integrating and reinforcing a localised circular economy.
Mr. Green Africa previously acquired an unknown amount of money from DOB Equity, a Dutch family-backed East African impact investor, and Global Innovation Fund, in cooperation with Unilever and has now secured a second round. Water Unite Impact Investment Vehicle, a partnership between Water Unite and Wellers Impact; the BESTSELLER Foundation; AlphaMundi Group; Minderoo; and DOW are new investors, joining DOB Equity and Global Innovation Fund.
Mr. Green Africa will be able to capitalise on its achievements and expand its business strategy thanks to this financing. Mr. Green Africa will contribute to a broader circular plastics economy by enhancing the output quality of its recycled plastics to a food-grade standard and greatly boosting capacity.
The company intends to create a new sourcing stream by incorporating consumers of all income levels who are incentivized to deposit plastic waste back into MGA collection systems, as well as expanding the production plant’s capacity to process 15-20,000 MT of plastic waste in the East African region.
“We are ecstatic to be able to bring together and align such a varied set of partners and investors to join Mr. Green Africa’s adventure. It’s a monument to the company’s and its people’s commitment to the vision and purpose,” said Keiran Smith, co-founder and CEO of Mr. Green Africa.