Business

Stanbic in Partnership to Promote Responsible Use and Recycling of Plastic Wastes

Stanbic Bank Uganda, Coca-Cola Beverages Africa and Nice House of Plastics in close collaboration with Kampala Capital City Authority have partnered to promote responsible use and recycling of plastic waste as a means of sustaining environmental protection.

In the MoU, the companies agree to support waste segregation initiatives in communities and plastic collection centres to increase the volume of safely managed plastics.

The companies will also make the necessary effort to engage plastic manufacturing companies to set up plastic collection centres in the communities as part of an extended producer responsibility to increase the amount of plastics collected and channeled to the recycling project.

Speaking during the signing of the MoU, Stanbic Chief Executive Anne Juuko said the initiative will promote the sustainable waste management of plastics in Uganda.

“This is a first of its kind in the country, where private sector players will collaborate to promote sustainable recycling of plastics through an ecosystem underpinned by value addition to create end products and ultimately protect the environment,” she added

Stanbic’s role in the new collaboration will be in providing the necessary finance and advisory expertise to promote sustainable waste management of plastics.

She said environment sustainability must remain a priority for all organizations as they shall each contribute to the achievement of the UN Sustainable Development Goals. “I’d like to urge other private sector players to join our efforts to promote recycling of plastics and be a part of the value addition ecosystem that will promote the creation of Ugandan locally made products,” she concluded.

Simon Kaheru, the Public Affairs and Communications Director at Coca-Cola Beverages thanked  Stanbic Bank for bringing them together in the environmental saving project noting that environmental protection is crucial foe economic development.

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“Plastic Waste recycling is a key component of our Sustainability focus in the Coca-Cola system. As you know, we have a global initiative called ‘world without waste’ under which we commit to help collect and recycle 100% of the PET waste generated by consumers,” In Uganda, we run Plastic Recycling Industries, an initiative under which we fund the collection and delivery of plastic waste from the environment to our recycling plant in Kyambogo, Nakawa.

Nice House of Plastics Managing Director Barbara Mulwana said the partnership will provide them with the much needed plastic raw materials which will be used in production of their products.

“Recycled PET is one of the major raw materials that we use in our work. We have previously imported some of it and this collaboration will go a long way in solving our raw material problem and promoting a safe environment,” she said.

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