Kodu Technology, a start-up in Tamale that 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 GH¢100,000 from the European Union (EU) 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 of Ghana to boost their competitiveness and make them investment-ready. Presenting the prize, EU Ambassador to Ghana, 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 and fashion, and the agriculture industry across Ghana’s 16 regions.
In all, 20 businesses were short-listed to participate in the Circular Economy Competition and pitch their concepts, ideas and businesses to industry leaders through an 8-week televised show on GHOne TV and in Europe the 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); and Jesse Agyepong (CEO-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 as: AgriMercarb – an animal nutrition company that helps farmers convert organic waste into quality protein for feed, fertiliser and cash (as outgrowers), using the black soldier-fly larvae.
BioBalance – a company that converts Marine biomass waste, cuttlebone, into an organic calcium supplement that improves the health and egg quality of birds, poultry and snails, and the soil quality for crops; and Kodu Technology, which was adjudged winner of the competition.
