The new report on Kenya’s transition to a circular economy and business opportunities by Sustainable Inclusive Business (SIB) Kenya and TheRockGroup is out!
Together with Sustainable Inclusive Business Kenya we launched the industry report on Kenya’s efforts to transition to a more sustainable and circular economy. The report was first presented by Karin Boomsma at the Africa Business Week last week by the Netherlands Enterprise Agency (RVO).
The report provides an overview of the status of circular economy trends in Kenya, existing gaps, and available (business) opportunities. It further showcases Kenya’s business climate and policy framework and highlights relevant organizations contributing to the country’s shift to a circular economy as an alternative economic framework.
Circular Economy as an alternative economic framework
A radical transformation in the way we use natural resources is central to meeting the needs of future generations. The take-make-waste concept has led to the dwindling of virgin material as well as the degradation of finite natural resources and capital. Current trends in global resource extraction are incompatible with internationally agreed targets for sustainable production and consumption.
In parallel, the notion of a Circular Economy (CE) as an alternative economic framework has been gaining significant momentum and traction over the last few years and is seen as offering an approach for achieving local, national, and global sustainability. The growing interest in CE is reflected in numerous actors including governments, the private sector and civil society.
As much as a circular economy is a new concept in Kenya, the government, through the Ministry of Environment and Forestry (MoEF) and of Trade and Industrialization as well as multilateral agencies, has made it possible by developing corresponding legal and policy frameworks that ensure a smooth transition from a linear economy.
Meaningful partnerships between government agencies and the private sector in Kenya
Through meaningful partnerships between government agencies and the private sector, Kenya is on a path to strategically integrating circularity in key sectors that will result in the development of new businesses active in redesigning, recycling and waste management. It will increase sustainable economic development and resilience.
You have feedback for us or would like to get in touch about potential business opportunities for you and your company? Get in touch!