Kodu Technology, a start-up in Tamale, which produces affordable, biodegradable, and eco-friendly sanitary pads, has been adjudged Winner of the 2023 Circular Economy Competition. As part of the winning package, the company is receiving seed funding of GHC 100,000 from the European Union to scale up its operations.
The Circular Economy Competition, funded by the EU supports small businesses and start-ups operating in the circular economy space in Ghana to boost their competitiveness and make them investment ready. Presenting the prize, EU Ambassador to Ghana, H.E. Irchad RAZAALY reiterated the EU’s support to a circular economy, in order to create more employment and income for the people, while reducing pollution and waste. “I am glad to provide seed funding to Kodu Technology. Companies like them are showcasing the positive effects of a circular economy and use innovation to empower women and girls in rural communities.”
A circular economy reduces pressure on natural resources and avoids pollution. It is an economy where products are designed to last longer, are easier to reuse, repair and recycle, and use as much as possible recycled material instead of primary raw material. Avoiding waste and recycling is key for every circular economy.
This year’s edition of the Circular Economy Competition received over 120 submissions from small businesses and start-ups in technology, packaging, beauty & fashion and the agriculture industry across Ghana’s 16 regions.
20 businesses were shortlisted to participate in the Circular Economy Competition to pitch their concepts, ideas and businesses to industry leaders through an 8-week televised show on GHOne TV and Europe in Ghana Youtube channel The Competition was judged by seasoned industry players; Amma Gyampo (Co-Founder of Scale Up Africa), Simon Turner (Co-Founder of the Founder Institute), Jesse Agyepong (CEO of Jesse Agyepong Consulting)
The businesses received several rounds of training, including marketing, business plan preparation, pitching to investors and how to make their businesses more circular. After a competitive selection process, the top three emerged: AgriMercarb– An animal nutrition company that helps farmers convert organic waste into quality protein for feed, fertilizer and cash (as out growers), using the black soldier fly larvae. BioBalance– a company that converts Marine biomass waste, cuttlebone, into organic calcium supplement that improves the health and egg quality of birds, poultry, and snails, and the soil quality for crops, and Kodu Technology who was adjudged the winner of the competition.