Norfund invests in two West African recycling companies
Norfund, the Norwegian state-owned investment fund, has made its first direct investments into African plastic recycling by injecting capital into ventures in Nigeria and Ghana. Norfund has committed €2 million to Wecyclers Nigeria and $10.5 million to Miniplast Ghana.
The funding for Lagos-based Wecyclers will be directed towards a new PET-bottle recycling plant in Ogun State, Nigeria, projected to handle 12,000 tonnes per annum. Meanwhile, the investment in Accra-based Miniplast aims to augment its manufacturing and recycling capacity to 1,700 tonnes per month by facilitating the acquisition of new equipment.
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