(Ecofin Agency) - Inside Capital, a private equity fund manager targeting high-potential opportunities in the southeast African region will invest $3.1 million in WeCycle, a Mauritius-based company specializing in the collection and recycling of paper waste.
The operation is the sixth investment made through Inside Equity Fund and the third in the waste management sector. The financial resource will support WeCycle's local expansion. The company, which has been in operation since 2012, plans to improve its collection capacity, set up recycling facilities, and explore the management of other types of recyclable waste.
WeCycle, which claims sales of nearly 5,500 tons per year, mainly handles the collection of paper waste that is exported to recycling companies abroad and returned as processed material for marketing.
Inside's support will also help improve WeCycle's internal organization through the implementation of solid processes and the deployment of best practices. “The strong environmental and social impact these investments are generating individually is highly satisfactory, but even more the prospects of know-how sharing and build-up, and synergies between them, raise high our hopes that we will be able – alongside our strong partners – to make a difference about how waste is managed in the region,” said Jérôme Lagesse, Managing Partner at Inside Capital.