Recycling is a big deal here, and the country can boast of one of the most effective recycling industries worldwide. Already, there are hundreds of recycling enterprises in different parts of the country, generating formal employment for a lot of people. To expand in scale, a lot of folks are looking for funding for recycling businesses in the country.
List of funding for recycling business in South Africa include WasteAid, Sasol Partnership, The Recycling Enterprise Support Programme, The Youth Challenge Fund and the Green Fund.
10 Funding For Recycling Business In South Africa
1. WasteAid
This agency has been working in South Africa for a while now, and they seem to be more grounded in Johannesburg to solve certain problems that sponsor their general purposes and aims.
WasteAid, utilizing the Circular Economy Network approach, is giving the needed support to grassroots entrepreneurs who are in the business of recovering the value from wasted resources. Hence, if you need funding for a recycling business in South Africa, you can work with these guys and they will give you the necessary things you need to do what should be done on a better level.
It doesn’t matter where your recycling business is currently at, the agency can be of great help. You can be a small-scale manufacturer somewhere around Johannesburg, there is something here that can be utilized for growth and scaling.
WasteAid operates in lower- and middle-income nations, implementing waste management and recycling initiatives that cut down on climate emissions, foster a circular economy, and generate livelihood opportunities for marginalized communities.
2. Sasol Partnership
If your recycling business is already doing well, you might want to reach out to this notable global chemicals and energy firm, Sasol.
Sasol has been around for a while now and has a reputation, not only in South Africa but even in some other parts of the world. It leverages its knowledge and proficiency to incorporate advanced technologies and procedures into large-scale operational facilities globally.
Also, Sasol has identified certain Sustainable Development Goals as its focal points to ensure the ecological, societal, and financial sustainability of its enterprise. It is also a public company listed on the Johannesburg Stock Exchange as well as the New York Stock Exchange. It strives to deliver sustainable and superior value to all of its stakeholders.
The company funded a unique recycling business in the country that is known as ‘Packa-Ching’, and it made the news. The firm was enabling folks across the country to make some money by selling their recyclable packaging. Hence, if your recycling business is unique and doing well enough already, you should see how you can partner with Sasol too.
3. The Recycling Enterprise Support Programme
This was put in place to assist newer folks coming into the waste economy. Financial assistance and grant support, without the need for repayment, can be accessed for waste management equipment, machinery, infrastructure, operational costs, business expansion services, etc. The aim is to ensure the firm will grow massively within a two-year timeframe.
The Recycling Enterprise Support Programme is executed and financed by the Department of Environmental Affairs on an annual basis. Grant funding, up to a maximum of R5 million, is accessible to newcomers and emerging ventures within the recycling sector.
It should also be added that grants are allocated competitively through the proposal submission process. The recycling grant is focused on the following:
– Aiming to facilitate the initiation or enlargement of at least two projects in each province in the country. Also, it promotes entrepreneurship and employment opportunities by maximizing the economic advantages derived from waste utilization
– Encouraging innovation by transforming recyclable materials into marketable products, as well as increasing recycling rates.
– Fostering the long-term sustainability of the identified and assisted projects.
4. The Youth Challenge Fund
If your recycling business can be operated within the Technology and innovation Sector and you are between the ages of 18 to 35 years, then you can go for the Youth Challenge Fund.
This program is designed to empower young start-ups, aiming to spur the creation and expansion of businesses owned by young chaps in the country. It focuses on enhancing digital skills, boosting the economy, and generating employment opportunities. The program’s main goal is to offer assistance to talented young entrepreneurs who aspire to scale up and develop their enterprises.
The objective is to foster inventive businesses as a response to youth unemployment by providing a blend of financial and non-financial aid. The initiative will extend non-financial assistance through Business Development Support services and financial aid through grants and loans. Additionally, the program will supply tailored post-investment support in the form of Business Development Support, aligned with the specific requirements of small enterprises.
5. Green Fund
The South African government, under the Department of Environmental Affairs (DEA), has established what is known as the Green Fund, to aid the shift towards a development path that is low in carbon emissions, resource-efficient, and climate-resilient. Another aim of the Green Fund is to provide funding for recycling businesses in South Africa.
The objective of the Green Fund is to offer funding to facilitate investments in environmentally friendly projects that contribute to reducing poverty and generating employment.
The Green Fund operates as an additional and supplementary resource, working alongside the current fiscal allocations that assist in the South African economy’s transition toward a growth path that is low in carbon emissions.
The Fund has been designed to power innovative and high-impact green programmes and projects by qualified folks, as well as reinforce climate policy objectives via green interventions. They are all out to build an evidence base for the expansion of the green economy in the country too.
As far as eligibility requirements are concerned, applications will be subjected to certain eligibility criteria, one of which is relevance and innovation. This means you have a greater chance of being accepted if your recycling project is new and unique in the green economy sector.
Also, your chances of getting funded are higher when it is glaring to the officials that your recycling activities can’t go on without the Green Fund’s financial support. Finally, the officials want to be sure that there is an ability to scale up what you are doing (i.e. it has the potential to be replicated elsewhere and carried out at a larger scale).
6. National Youth Development Agency – NYDA
This helps young entrepreneurs through non-repayable business grants and non-financial business development support. It was established to assist young entrepreneurs in the country, and you can utilise it to either start or expand your recycling businesses.
7. National Empowerment Fund
The National Empowerment Fund gives various forms of support, catering to different businesses in different sectors. You can utilise its offerings to enjoy financial benefits for your recycling business.
8. Industrial Development Corporation Funding
The Industrial Development Corporation provides necessary resources to businesses that need money to start or expand their business in South Africa.
9. Department of Trade and Industry Funding
Funding can be made available to your recycling business by this channel too. It was crafted to help small businesses across various industries, to foster economic growth in the country.
10. The Small Enterprise Development Agency Fund
SEDA exists to provide entrepreneurs with guidance, training, and aid in navigating the steps necessary to secure funds. However, make sure your recycling business is well registered before applying.
Related:
- Top 5 Funding For Environmental Projects In South Africa
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- Top 5 Funding For Daycare Centers In South Africa
- Top 10 Funding For Agriculture In South Africa
In Conclusion
We have highlighted some of the funding for recycling business in South Africa in the piece above. You can take advantage of any of them to lift your recycling enterprise to the next stage.