DOB Equity makes further investment in Mr Green Africa as the plastics recycling business ventures into waste-tech
DOB Equity, a leading Dutch family-backed impact investor in East Africa has made a further investment in Mr Green Africa, the Nairobi based recycler and recycled plastics supplier.
Mr Green Africa collects and recycles plastic into a “new” raw material which can be used by manufacturers with a traceable social and environmental impact, the waste plastic is also ethically sourced.
The investment will allow Mr Green Africa to fulfil the growing demand for recyclables from local and multinational companies. From DOB Equity’s initial investment, MGA has been able to replace virgin plastic with up to 100 per cent recyclable plastic for multi-national companies such as Unilever.
As with the financial, agriculture and health sectors, technology is being used to make supply chains more efficient. Mr Green Africa has developed a similar concept in the waste sector by launching a pilot for a consumer facing app, which allows plastics to be picked up on demand and processed into recycled plastics.
With this new technology, Mr Green intends to close the loop from the manufacturer to the end consumer. The concept promotes a circular economy and allows the plastics to be fully traceable.
Following its increased focus on consumers, Mr Green Africa has been able to attract a new investor, Smollan, the international retail solutions company. Smollan’s knowledge and expertise is expected to play an integral role in including the consumer in the MGA network and creating a fully localised circular plastics economy in emerging markets.
Keiran Smith, Co-Founder and CEO of Mr Green Africa, says: “We are being approached by an increasing number of international consumer goods companies who are determined to reduce the impact of their plastic packaging on the environment.”
Saskia van der Mast, Co-CEO of DOB Equity, says: “Mr Green Africa is a perfect example of the type of business DOB supports. It offers a truly groundbreaking, ethical business model for recycling businesses, not only in Kenya but on a global scale.”