As part of the new "Sustainable Waste Innovation for a Future in Transition (SWIFT)" program, 110 small and medium-sized enterprises (SMEs) in Kenya will receive support in setting up innovative waste management models. The initiative is financed to the tune of $5.1 million by the Ikea Foundation.
Technical and financial assistance. This is the package that will benefit 110 Kenyan small and medium-sized enterprises (SMEs) specializing in waste management, over the next three years. This is thanks to the “Sustainable Waste Innovation for a Future in Transition (SWIFT)” program recently unveiled by the Kenya Climate Innovation Centre (KCIC). “Are you an entrepreneur in the waste management sector? We’re looking for you! Apply today and join the SWIFT program, either for incubation or acceleration. The deadline for applications is February 2, 2024,” KCIC published on its website on January 11, 2024.
In the first year of the SWIFT program, SWIFT will support 55 SMEs, particularly those led by young people and women in a variety of areas, including business consulting, market access compliance, technical assistance, access to financing solutions, sustainability mainstreaming, policy support and technology solutions.
Over the remaining two years, the SWIFT program will support the growth and sustainability of a further 55 SMEs in waste management. “Our ambition is to transform the waste management sector in the East African country, through innovative business models that incorporate circular economy principles,” says Joseph Murabula, KCIC’s Managing Director. In Kenya, one of the major problems in the waste sector is poor management. A situation that contributes to 5% of global greenhouse gas (GHG) emissions, according to a report by the United Nations Environment Programme (UNEP).
Funding from the Ikea Foundation
In its effort to strengthen waste management policies and frameworks, KCIC will strategically collaborate with the Kenyan national government and five counties, namely Nairobi, Mombasa, Nakuru, Kisumu and Uasin Gishu. The collaborative effort will support the development of policies and regulations that encourage private sector engagement in waste management and circular economy practices.
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As part of these activities, the Ikea Foundation, whose eponymous company operates in the furniture sector worldwide, has pledged $5.1 million to the KCIC. More than 2,000 direct and 4,000 indirect jobs will also be created thanks to the new waste management program. This will improve the livelihoods of over 5,000 households in Kenya. In addition, “the SMEs supported are expected to generate up to $10 million in revenue”, projects the Kenya Climate Innovation Centre, established in September 2012 by the World Bank Group’s Climate Technology Program.
Inès Magoum
