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Masada Waste Transformer clinches $25m Clean Energy Investment package for Freetown

By Ishmael Kindama Dumbuya

The Masada Waste Management Company together with its partner, the Waste Transformers from the Netherlands had won a clean energy investment package that will see the rolling out a network of decentralized waste to value installations across the city of Freetown.

More than 100 contestants, from across the world, entered the competition and went through a process of fine tuning their business plans. 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.

The Masada Waste Transformers, a joint venture composed of The Waste Transformers from the Netherlands and Masada Waste Management in Sierra Leone, pitched for an investment package 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. Together they provide 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.

Madam Aminata Dumbuya, a partner in Masada Waste Management Company while in Ivory Coast said “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”.

While he was also speaking during the unveiling of the financing package, Lara van Druten, Managing Director of The Waste Transformers said “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 enormous confidence in our team and our business plan.”

The West African Forum for Climate & Clean Energy Financing (WAFCCEF-3), organized by The Private Financing Advisory Network (PFAN), hosted this third Business Plan Competition at the African Development Bank Headquarters in Abidjan, Ivory Coast, on April 12th 2018.

 

 

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