Frankfurt (Germany) and Abidjan (Cote D’Ivoire), March 2020. GreenTec is very pleased to announce our investment in Coliba, an innovative Cote D’Ivoire-based recycling and waste management start-up that is addressing one of the most prominent ecological problems of our time: plastic waste.
Over 5 million tonnes of waste are generated each year in Côte d’Ivoire with less than half of the current waste being collected, and only about 3% is being recycled. 94% of actors in the plastic waste economy operate in the informal sector on the fringe of the recycled plastics value chain. Coliba’s platform solves these issues by offering formal employment opportunities in waste management as well as an easy solution for households to earn rewards for recycling.
Coliba applies principles of the circular economy to tackle the problem of plastic waste in Cote D’Ivoire. Leveraging a technological solution in the form of a mobile app to facilitate sourcing. Coliba’s app lets users earn airtime or discount on FMCG products by recycling. The app tracks user’s bottle collection progress and efficiently dispatches agents for collection. The collected plastic bottles are then cleaned, sorted, and processed into P.E.T. pellets and flakes that are then sold regionally or internationally to be turned into new plastics-based goods.
To date, Coliba generates revenues for over a year, has created over 50 jobs, and boasts an impressive 77% female employment rate. The company’s impressive track record has been powered by a grant from GSMA Ecosystem Accelerator and long-lasting partnership with mobile operator MTN.
GreenTec will support Coliba in scaling their operations to create larger value and impact in Africa’s recycled plastic economy.