FUNDED: Golden Rosa processes recycled plastic material in Uganda

Golden Rosa processes recycled plastic material. The business started in 2008 by distributing bags for plant cultivation. Since 2017 its has operated as Golden Rosa Limited. It collects plastic waste, has it turned into HDPE granules externally and produces flakes, bags for plant cultivation, rubbish bags and plastic sheets. It employs 20 people.
Already collected € 20.000
Searched budget € 20.000
Project duration
2019 - 2021

The business project

Golden Rosa plans to grow by integrating the production of granules and expanding blow film capacity. This will give a processing capacity of 11 tons a month – an increase from 132 to 528 tons on an annual basis. The business consequently envisages annual growth of around 10 percent. In addition, it is set to become a distributor of granules and flakes (ground and washed waste).


Why OVO believes in this project


600 tons of plastic are used every day in Uganda. It is vital for the recycling industry to take this in hand. Collecting and sorting is very labor-intensive, so there is both an ecological and a major social impact. Golden Rosa is also aiming for cooperation with the Endplasticwaste fund ($1.5bn over 5 years).

 

Investment sought

An investment loan of €45,000 is being sought, repayable over 5 years. The local partners will look after the necessary operating capital. The financing is now in place thanks to the contribution of the OVO Acceleration Fund, Rotary Club Beveren and Thierry Deflandre, head of the Investment Team. 
 

Statement

There is a vital need for plastic recycling businesses in Uganda. Golden Rosa is very well placed for this.
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photo: Elvis Ssemgworere