How The Afdb Is Driving The Shift To A Circular Economy In Africa

The circular economy is an innovative economic system designed to eliminate waste and pollution, keep products and materials in use, and regenerate natural systems. Unlike the traditional linear economic model which follows a take-make-dispose model, where resources are extracted, used to make products, and then discarded as waste the circular economy aims to keep resources in use for as long as possible.

According to a new analysis, the circular economy offers a billion dollar opportunity for Africa, with immense implications for efficient food systems, plastic and electronics waste management, low carbon infrastructure and sustainable mining.

For African nations, adopting a circular economic system offers a unique opportunity to address environmental challenges, create economic opportunities, and promote sustainable development. The African Development Bank AfDB is spearheading this transition through the Africa Circular Economy Facility ACEF

ACEF is a multi-donor trust fund committed to fostering the adoption of the circular economy model across Africa by providing grant financing for projects designed to accelerate this transition.

ACEFs funding focuses on three main objectives. These include institutional capacity building, which primarily deals with enhancing the creation of enabling environments necessary for the circular transition, and private sector support, where the fund offers business skills development programs for start-ups and small and medium-sized enterprises SMEs in the circular economy.