Water Unite Impact is pleased to announce that we are joining the ranks of a diverse group of investors, including DOB Equity and Global Innovation Fund, in the latest round of investment into Mr. Green Africa.
Mr. Green Africa, a Kenyan plastics recycling pioneer, has been boosted by a major round of investment by impact driven investors and key industry stakeholders to scale its business model across the continent.
Mr. Green Africa’s mission is to turn waste into value, thereby integrating and strengthening a localized circular economy in emerging markets. This investment will allow Mr. Green Africa to build on its success and scale its business model. By improving the output quality of its recycled plastics to a food-grade standard and significantly increasing the capacity, Mr. Green Africa will contribute to a broader circular plastics economy.
The company plans to create a new sourcing stream by integrating consumers from all income brackets incentivized to deposit plastic waste back into the MGA collection systems. Mr. Green Africa also plans to increase the capacity of the production plant to process 15-20,000 MT of plastic waste in the East Africa region.
The Water Unite Impact, which has a planned capitalisation of US$ 100 million, invests into private sector water, sanitation and plastics pollution reduction SMEs globally. The fund uses innovative funding from cornerstone investors, Water Unite and The One Foundation, raised through ‘micro-contributions’ on products sold by global retailers, as its foundation while concurrently leveraging institutional capital. This structure is a creative way of enabling each dollar of funding to support more than one organisation, generating social and environmental impact multiple times.
Alongside Water Unite, leading pioneers and impact investors who are similarly investing in Mr. Green Africa and their circular economy solution to plastic waste include: Global Innovation Fund, DOB Equity, The BESTSELLER Foundation, AlphaMundi Group (AMG), Minderoo and DOW.
Keiran Smith, Co-Founder and CEO of Mr. Green Africa, comments: “We are delighted to bring together and align such diverse groups of partners and investors to join this journey of Mr. Green Africa. It's a testament to the authenticity of the vision & purpose of what the company and its people stand for.”
Neil Sandy, CEO of Wellers Impact, added “Water Unite Impact is delighted to be investing in a remarkable circular economy solution through Mr. Green Africa based in Kenya. Circular economy solutions are at the forefront of creating a sustainable and long-term impact. Our ethos of creating or changing systems that generate positive social and environmental impact is perfectly echoed by Mr. Green Africa’s business model and mission. Their highly integrated downstream and upstream model demonstrates their potential to make a scalable positive impact for Africa's waste sector, which we are excited to be a part of."