Through this initiative, the leading nutrition company is working to enhance the recycling ecosystem in Egypt.
It has been established through a collaboration between the Egyptian Ministry of Environment, CID Consulting and PayMob and aims to incentive waste collectors in the informal sector to boost their collection capacity ensuring larger quantities reach PET processors.
How is this initiative working?
Nestlé adopted an entire organization that goes in line with the new governmental law of utilizing plastic waste.
Through the company’s dedication to the environment, more plastics used in packaging material will be recollected and recycled.
The success of this initiative encouraged several companies to reconsider their recycling, wrapping and packing activities.”
Using the power of food
Moataz El Hout, CEO of Nestlé Egypt stated,
“At Nestlé our purpose is to unlock the power of food to enhance the quality of life for everyone, today and for generations to come.”
“Nestlé identified a list of 20 countries that contribute to more than 50% of the world’s plastics consumption and Egypt is one of them.”
Nestlé is working in these countries to boost recycling and improve its ecosystem. With Cairo being the first city. This initiative will incentivize traditional waste collectors, given that they are an essential pillar of the value chain.”
On Financing 2030 Agenda for Sustainable Development
Dr Mahmoud Mohieldin added,
“The environmental aspect is one of the objectives of Sustainable Development and must not be overlooked. In fact, the Reverse Credit system is one of the objectives of Sustainable Development.”
“Egypt’s Vision 2030 requires hard work and dedication, and the existing environmental challenges require collective efforts from both the governmental and the private sector.”
The Reverse Credit System
Through the partnership between Nestlé and CID, the Reverse Credit System has been established to facilitate the process of registering and documenting all quantities among waste collectors, intermediate sorters and PET processors in Manshyiet Nasser.
This will enable each to collect their monetary incentive upon meeting their monthly targets.
The multiple benefits of the system
The Reverse Credit System does not only have a positive impact on the environment; rather, but it also has a positive economic impact on the informal sector through financial inclusion, women empowerment and digital transformation.
The financial incentives received by participants enabled families to allocate larger amounts to nutrition, education and health.
Conquering the obstacles
With digital illiteracy imposing a constraint on the applicability of the system, Nestlé Egypt trained all participants on how to receive their incentives through e-wallets then acquiring cash from different branches of telecom operators.
Moreover, a team of youth from Manyshiet Nasser has been recruited to monitor daily transactions ensuring the sustainability of the system closely.
Nestlé Egypt partnered with PayMob to design and execute the digital platform for registration and documentation of all quantities through SMS from their mobile phones and acquiring the amounts in the e-wallets.