Updated: Jan 19
We are delighted to have closed our Series B Funding, which is a fantastic milestone for the MGA business and its investors. As a B-Corp organization and pioneer in the recyclables industry, this Series B funding moves us a step further in realizing our expansive goals.
The close of this Series B Fund raise strengthens our leadership position in the continental plastics recycling market, allowing us to scale our business model, improve our supply chain, grow our production plant processing plastic waste capacity to 20,000 MT in the East Africa region, and enable us to continue providing a reliable and consistent living wage to our waste pickers through fair and ethical pricing.
Our ability to attract impact investors who embody sustainable environmental and social impact practices re-affirms our commitment to the critical plastics supply chain stakeholders, who will ensure business decisions are guided by industry best practice and remain future- proof, whilst continuously turning WASTE TO VALUE.
The Series B raise involves some of the leading pioneers in the plastics industry and impact investors, including:
DOW, a leading material science company that will support MGA innovations on plastic collection and recycling, and product development, with a focus on flexible packaging feedstock.
Minderoo, through its ‘No Plastic Waste’ and ‘Walk Free’ initiatives, will support MGA in their impact journey. In particular there will be a focus on improving the livelihoods of informal waste pickers and making them part of the MGA supply chain in a sustainable way.
AlphaMundi Group (AMG) a Swiss impact investing manager specialized in small enterprise finance in emerging markets, with a regional office in Nairobi, investing through its AlphaJiri Investment Fund (AJIF).
The BESTSELLER Foundation, a circular economy focused Impact Investor that helps innovators tackle one of the biggest challenges of our time.
DOB Equity, a leading Dutch family-backed impact investor in East Africa
Global Innovation Fund, a non-profit innovation fund headquartered in London, that invests in the development, rigorous testing, and scaling of innovations targeted at improving the lives of the world’s poorest people.
"Mr Green Africa is delighted to bring together and align such diverse groups of partners and investors to join this journey. It's a testament to the authenticity of the vision & purpose of what the company and its people stand for.” - Keiran Smith, Co-Founder and CEO of Mr. Green Africa.