Mr Green Africa, a Nairobi based plastic recycling company and supplier of environmentally friendly material has secured funding from DOB Equity and Global Innovation Fund.
The investment is expected to increase the processing capacity at the recycling plant and enable Mr Green to supply more recycled products to local and international markets.
Primary buyers of the re-purposed goods include consumer goods companies such as Unilever. The multinational firm has committed to use 100% reusable, recyclable, or compostable packaging by 2025.
Justin Apsey, Unilever (EA) CEO said that the partnership with Mr Green opens new frontiers for combating the plastic menace through sustainable and collaborative approaches.
Kenya, as an emerging market, provides a ready source for Mr Green’s raw materials. There have been environmental concerns about the growing plastic waste in the country. Only 10% of the plastic waste in Kenya gets recycled.
The plastic challenge in emerging markets is a conservationist headache due to a expanding middle class and urbanization.
Mr Green sells 2000 metric tonnes of recycled products in Kenya annually. The funding by Dutch based DOB Equity and Global Innovation Fund will enable the firm to improve and streamline the current supply chain network to incorporate marginalized waste collectors.
Mr Green will reap huge benefits from the increasing demand for recycled products particularly in emerging markets such as Kenya.