Apr 7, 2021
In a major boost for the local recycling sector, Coca-Cola in South Africa and BanQu have rolled out an innovative payment platform to financially empower informal waste reclaimers and buy-back centres.
“Waste reclaimers who collect waste packaging perform one of the toughest, yet most important jobs in the circular economy and up until now, they have remained mostly invisible and unbanked,” says David Drew, director of sustainability for Africa at Coca-Cola Africa. “This innovative block-chain based solution provides a platform to financially empower waste reclaimers and small buy-back centres across South Africa.”
More than 60 000 waste reclaimers in South Africa earn a living by collecting packaging waste, many of whom are unable to find work or formal employment. Much of what reclaimers collect is sold through small buy-back centres before ultimately reaching large recyclers.