Abidjan, Ivory Coast ,12 April 2018,
The West African Forum for Climate & Clean Energy Financing (WAFCCEF-3), organised by The Private Financing Advisory Network (PFAN, sponsored by UNIDO, The African Development Bank, REEP and ECREE, hosted its 2018 Business Plan Competition at the African Development Bank Headquarters in Abidjan, Ivory Coast.
More than 100 contestants, from across the world, entered the competition and went through a rigorous coaching and selection process. The 10 selected finalists were invited to pitch for a mix of over 200 investors and judged by a professional panel of judges composed of representatives from the African Development Bank, Private Equity and Institutional Finance.
Investment pitch for $25.000.000
The Masada Waste Transformers, a joint venture composed of The Waste Transformers from the Netherlands and Masada Waste Management in Sierra Leone, who pitched for an investment of $25,000,000 in order to roll-out a network of decentralized waste-to-value installations across Freetown, were voted as the winning business plan that provides a high-impact approach to resource recovery and energy production that will power Sierra Leone’s growth in a way that is clean, green, entrepreneurial and smart.
Aminata Dumbuya, partner in Masada Waste Management: “Together with The Waste Transformers, we have gone on a long journey in order to bring us this far. Sierra Leone has experienced a rapid increase in energy demand in recent years while simultaneously grappling with problems that swing from Ebola to growing waste volumes and increased need for an intelligent (re)application of our natural resources. The socially inclusive, innovative approach we have developed provides effective solutions to both challenges”.
Lara van Druten, Managing Director of The Waste Transformers: “This Joint Venture demonstrates how companies can cooperate in a mutually inclusive way that generates energy for positive economic and social change. We are excited at the opportunity to transform an unused resource – waste – into new energy for Sierra Leone. And, we are truly delighted that this distinguished and experienced panel, has expressed such confidence in our team and our business plan.”
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The WAFCCEF 3 competition is a joint initiative of UNIDO (The United Nations Industrial Development Organisation), the African Development Bank, REEEP and ECREEE.