Dow to invest in recycling company Mr Green Africa

Dow, a leading plastics provider globally, has recently made an initial investment in Kenya's recycling company, Mr. Green Africa, as part of their Series B fundraising round. This investment aims to divert approximately 90 kilo tons more plastic waste from informal dumpsites, contributing to efforts to combat plastic pollution in Africa. Marco ten Bruggencate, the Commercial Vice President for Packaging and Specialty Plastics in Europe, the Middle East, and Africa at Dow, discussed the significance of this investment in an exclusive interview with CNBC Africa. Bruggencate highlighted the pressing issue of plastic pollution in Africa, emphasizing the need to close the loop on plastics and leverage the value and demand for post-consumer plastic waste. He stated that brand owners are increasingly seeking to incorporate recycled materials in their products, creating a business opportunity to meet this demand. Dow's investment in Mr. Green Africa signifies a strategic partnership with a company that is dedicated to creating a sustainable impact by incentivizing the collection, conversion, and sale of post-consumer plastic waste. Mr. Green Africa has implemented innovative measures to engage with waste pickers and collectors, offering them premium pricing and immediate payment through mobile money. The company's focus on empowering marginalized waste pickers aligns with Dow's commitment to promoting circular economy opportunities in the plastics industry. By investing in Mr. Green Africa, Dow aims to support the growth of sustainable recycling practices and accelerate the transition towards a circular economy in Africa. Bruggencate also discussed the role of the informal sector in driving sustainable development, highlighting Mr. Green Africa's partnership with approximately 2,500 waste pickers to facilitate the traceability and fair payment of plastics. The investment in Mr. Green Africa will enable the company to expand its operations in Kenya and neighboring countries, ultimately doubling the number of waste pickers involved. Bruggencate emphasized the importance of startups in the recycling space in positioning themselves for funding, noting that companies like Mr. Green Africa, with a proven track record and innovative technology platform, are well-positioned to attract investment. He acknowledged the growing awareness of the need for sustainable waste management solutions in Africa and encouraged startups to scale their operations to meet the increasing demand. In closing, Bruggencate addressed the significance of designing for the end of life in reducing plastic waste. He highlighted Dow's efforts to collaborate with material scientists and industry partners to develop new packaging solutions that prioritize recyclability and circular design principles. By designing packaging with the end in mind and engaging in collaborative innovation, Dow is leading the way in promoting sustainable practices in the plastics industry.