Apr 30 , 2024
Ethiopia's fight against waste and the promotion of a circular economy received a 1.6 million dollar boost to empower young entrepreneurs focused on lowering waste generation and promoting environmental sustainability. Reach for Change and the IKEA Foundation have joined forces, launching a three-year project that aims to support reusing, repairing, and recycling materials. Building on a successful pilot project that created over 150 jobs, the new program seeks to empower a total of 105 green businesses. Elsabeth Tsegaye, program manager at Reach for Change said they will receive crucial support, including training, coaching, access to markets, and equity-free funding ranging from 5,000 dollars to 10,000 dollars to help them develop sustainable business models and expand their operations. This initiative comes at a critical time. Ethiopia currently struggles with low recycling rates and underdeveloped markets for recyclable materials. The program recently unveiled finalists from its previous Green Business Incubator, including Husky Energy & Technologies and Askema Engineering. During the launch event held at Hyatt Regency, Africa Avenue (Bole Rd), some of the participating startups showcased their innovative ideas, such as transforming plastic waste into building materials.
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