Global: The global circular economy stands at 7.5 Trillion Dollars and as Nigeria heads toward a circular economy, the country's recycling sector including waste recycling, sewage disposal, energy conservation are growing at a rapid pace and are hungry for investment -- from both home and abroad.
Nigeria: The development of the circular economy in Nigeria is still at the preliminary level and the waste recycling market alone is huge and hardly tapped: an estimated 1 billion bottles, pet bottles, cans and scrap metals need to be recycled every year, making Nigeria the single biggest market for Chinese and Indian recycling companies seeking expansion.
Challenges faced by the Recycling and Waste Mgt Sector
The biggest obstacle for traditional recycling companies and waste management
firms in Nigeria is government regulations, how fragmented the sector is and the use
of traditional methods to collect, buy and recycle solid wastes, which is time wasting,
expensive, hectic and atimes messy. Thus, the business is considered as a dirty,
business for scavengers and maybe illiterate traders and street boys.
Solution to the Challenges: Recyclestack Limited is a cleantech start-up providing innovative recycling and sustainable waste management solutions.
We are revolutionising the circular economy by connecting Nigerians to recyclers, dealers and buyers of solid wastes. Our company promotes a clean and green environment by converting solid wastes to wealth.
Our solution allows owners to extract value from their solid wastes while also supplying a steady supply of materials to the Nigerian recycling and manufacturing sector.
Recyclestack disrupts the traditional solid waste collection and recycling methods in Nigeria by incorporating technology (e-commerce marketplace) platforms to promote the solid waste business, empower Nigerians financially by teaching and connecting participants to the circular economy.
Our Mission: Enabling a sustainable clean and green environment through technology.
Our Vision: Connect Nigerians to the global circular economy.