Startups

South African recycling platform recognised as a global winner

0

South African recycling company, Kudoti, was announced in the top five winners of Nestlé 2021 Creating Shared Value (CSV) Prize, for their innovative recycling impact through technology.

The CSV Prize has been running for over 10 years and has identified multiple initiatives for some of today’s most critical environmental and social issues around the world. This year’s competition, conducted in partnership with the non-profit organization, Ashoka, was entitled ‘How do we create a waste-free future?’,  It aimed to identify and award innovative solutions with a system-change approach and a strong growth potential, or a replicable model for other social, cultural or geographical settings.

Kudoti (meaning trash in Zulu) is changing business perspectives of waste into recovered materials through supply chain solutions.  The company’s digital approach helps track recyclable waste in real-time and matching it to demand. The use of technology improves market conditions for waste materials, which drives up recycling behaviour.

Matthieu de Gaudemar, one of the founders of Johannesburg-based Kudoti, expressed gratitude to Nestlé and Ashoka for this CSV initiative.  “Businesses and individuals have a concept of waste as waste, when we should have a concept of waste as a resource.  With new business models, we can change the way that waste is viewed.”

De Gaudemar adds that their platform’s success was collective team effort.  “It truly takes everyone to address systemic environmental issues. Through this financial investment and technical resources, we will amplify our impact by scaling up our solution in South Africa.”

“When people speak of the future, a world of hover crafts or holograms may come to mind. But at Nestlé, we are seeking a more environmentally futuristic landscape. Through these  Awards, we are on a mission to identify and empower market disruptors in the hope of accelerating a waste-free future”, says Saint-Francis Tohlang, Corporate Communications and Public Affairs Director at Nestlé East and Southern Africa Region (ESAR).

As one of the winners, Kudoti will receive a cash prize of $40 000 and will benefit from Ashoka’s online resources and workshops to explore potential collaboration with Nestlé and a mentoring programme.

“Innovations such as Kudoti not only help reduce waste but also drive consumer behaviour change which is key to achieving a waste free future and takes us closer to a circular economy”, concluded Tohlang.

Banks must partner with fintech to accelerate the digital banking transformation

Previous article

Ways to supercharge your stokvel

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Startups