Nigerian waste recycling and social benefit startup, Recyclepoints is one of the 10 African Startup finalists of the 2018 edition of the Zambezi Prize for Innovation in Financial Inclusion awards. The competition has been designed to unearth and celebrate startups that are solving Africa’s biggest financial inclusion challenges.
The 9 other selected companies include Apollo Agriculture (Kenya), Bidhaa Sasa (Kenya), FarmDrive (Kenya), Farmerline (Ghana), MaTontine (Senegal), OZE (Ghana), Tulaa (Kenya), Wala (South Africa) and LanteOTC (South Africa).
The winners will also be invited to attend the Zambezi boot camp during the MIT Inclusive Innovation Challenge (IIC) gala which will hold on the MIT campus in Boston, between November 5th-9th. They will also have the opportunity to compete for a $1 million prize at the IIC global event.
The prize has been put together by the Legatum Center for Development and Entrepreneurship at the Massachusetts Institute of Technology (MIT), in collaboration with the Mastercard Foundation. Speaking on the list, Georgina Campbell Flatter, the Executive Director of the MIT Legatum Center noted that the finalists “represent some of the world’s most innovative change agents.”
About Recyclepoints
The startup operates a point-based incentive model with which it collects Pure Water Sachets, PET Plastic Bottles, Used Beverage Cans, Glass bottles, Old Newspapers and Brown Corrugated Cartons from registered post-consumers and in turn reward them with points, which when accrued can be used to redeem household items and cash.
Points are allocated based on a Points Earning Chart where the quantity of items is equated to the number of points earned. RecyclePoints works in partnership with the Lagos State Waste Management Authority (LAWMA) in waste recycling and sanitation advocacy.