Africa faces a growing challenge in managing its waste and natural resources sustainably. The traditional “take, make, and dispose” linear approach to production and consumption is proving inefficient, wasteful, and harmful to both the environment and human health. According to the World Bank, Africa generated 174 million tonnes of waste in 2016, a figure projected to surge to 516 million tonnes by 2050. Alarmingly, only 4% of this waste is recycled, compared to 44% in Europe and 35% in China.

The Promise of a Circular Economy

A circular economy, which focuses on keeping materials in use for as long as possible while minimising waste and pollution, presents a viable alternative that could enhance Africa’s social, economic, and environmental well-being. The Ellen MacArthur Foundation estimates that adopting a circular economy could generate $1.8 trillion in value for Africa by 2030, create 4.5 million new jobs, and reduce greenhouse gas emissions by 25%.

However, realising this potential is not without its challenges. Many African countries lack the necessary infrastructure and regulatory frameworks for effective waste management and recycling. Currently, only 19% of Africa’s urban population has access to controlled waste disposal services, with a mere 4% of waste treated to mitigate environmental impact. The absence of clear policies, such as extended producer responsibility and eco-labelling, further hampers the adoption of circular practices.

Awareness and Capacity Building

Limited awareness of the circular economy’s benefits among businesses, consumers, and policymakers adds another layer of complexity. A survey by the African Circular Economy Network revealed that only 58% of African businesses are familiar with the concept, and only 24% have implemented circular practices. Likewise, only 35% of consumers expressed a willingness to pay more for environmentally friendly products.

To bridge these gaps, education, training, and awareness-raising initiatives are essential. Such programmes can foster a culture of sustainability, equipping stakeholders with the knowledge needed to transition towards circular practices.

Nigeria’s Circular Economy Initiatives

Nigeria, one of Africa’s most populous countries, generates about 32 million tonnes of solid waste annually. Unfortunately, only 20% of this waste is collected and a mere 10% is recycled. The remainder is either dumped in open landfills, burned, or littered, posing serious threats to public health and the environment. In response, various state governments have initiated programmes aimed at promoting the circular economy.

In Lagos, the government launched the Blue Box programme to improve waste collection and sorting at the household level. This initiative provides residents with blue boxes for separating recyclables and establishes sorting hubs for further processing. The goal is to increase the recycling rate from 10% to 50%, creating 500,000 direct and indirect jobs in the process.

Other states, such as Ogun and Kaduna, have introduced waste-to-wealth projects and recycling schemes that provide collection bins, vehicles, and training for local communities. These initiatives not only aim to reduce waste but also generate income and employment opportunities.

Policy Support and Capacity Building

The National Environmental Standards and Regulations Enforcement Agency (NESREA) is playing a pivotal role in enforcing guidelines for various waste types and implementing the Extended Producer Responsibility (EPR) policy. The Nigerian government has also introduced incentives for waste management, such as tax waivers and grants, creating a conducive environment for circular economy growth.

Moreover, raising awareness among the public and private sectors is critical. Campaigns like World Environment Day and National Recycling Day are being organised to educate citizens about the benefits of circular practices.

The Financial Sector’s Role in the Circular Economy

Access Bank, a leading financial institution in Africa, is committed to supporting the transition to a circular economy. As part of its sustainability strategy, the bank provides financing, advisory, and capacity-building services for circular businesses and initiatives. Through the Nigerian Circular Economy Working Group, Access Bank is helping to develop a national policy framework that aligns with international standards on the circular economy.

The bank also supports educational initiatives like the Leadership Programme for Sustainable Waste Management, which aims to empower individuals in the waste management sector. Additionally, the Zero Carbon Africa Impact Programme, launched in partnership with HACEY, aims to nurture climate action leaders across Sub-Saharan Africa, focusing on sustainable business practices and environmental preservation.

Conclusion

By embracing a circular economy, Africa has the potential to unlock significant social, economic, and environmental benefits. Through effective policies, community engagement, and education, the continent can transition from a linear to a circular model, ensuring a sustainable future for its people. With collective efforts from governments, businesses, and civil society, Africa can pave the way for a new era of sustainable prosperity.

Source: financialnigeria