In line with its vision to better manage the environment and support the socio-economic uplifting of the Region where it operates, Inside Equity Fund has committed to invest US$2.75mn in Alpha to finance the doubling of its waste collection and processing capacity. The Fund is reaffirming its commitment to ameliorate and add value to the waste management in the Region and will back Alpha in becoming a truly impact-driven business in Zambia. This will be achieved by structuring the upstream plastic waste collection channels resulting in drastically reduced environmental footprint and underpinning the longterm sustainability of communities involved.
Founded in 2015, Alpha is the largest collector and aggregator of post-consumer PET bottles in the country and manufactures recycled PET strapping. Girish Sharma, CEO of Alpha Polyplast, has an extensive background in the recycling industry. With Inside’s contribution, it is projected that Alpha will reach its full capacity in the next three years, recycling over 3,000t of PET per year (the equivalent of 70m bottles), further contributing to the reduction of plastic waste pollution.
Country Director, Basil Nundwe, said: "We are delighted to partner with a promising entrepreneur and growing company. This investment is a clear signal from Inside that the « Socially and Environmentally Virtuous » business models that we target definitely have their place in our region. Indeed, among other benefits, this project will decrease plastic waste in Zambia, bring hard currencies in the country, reduce global carbon impact, create jobs, and generate financial returns for our investors. Furthermore, Alpha now has the opportunity to work with our other portfolio companies, in the same ecosystem, to maximize synergies and establish a truly innovative consolidation playbook in the waste management and recycling industry across the region to become a regional leader. In addition, we are convinced that we can bring value in terms of corporatizing the business, financial engineering, developing export sales opportunities, and process improvements."
Girish Sharma, CEO of Alpha said: “Not only is Alpha a leader in the recycling industry in Zambia but we are extremely focused on helping the people in our local communities both on a macro and micro level. Inside Capital team have been very professional from the start, and have already shown their ability to bring value, allowing me to focus on the micro-level impacts of my company. So far, Alpha has helped clean the local environment through a waste collection service, provided steady employment to local men and women, and continues to educate people on the importance of recycling and creating eco-friendly businesses. We are always looking for ways to improve the quality of life locally and internationally through the business, and with my partners at Inside, Alpha has taken a giant step in the right direction. I look forward to continued success, and I am excited for what’s to come.”
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