Optimizing the circular economy: Coca-Cola and BanQu
Results
RECYCLING COLLECTORS / WASTE PICKERS HAVE BEEN REGISTERED
BUYBACK CENTRES SIGNED ON
OF RECYCLABLE MATERIALS CAPTURED
Big Picture
In South Africa, Coca-Cola Africa is dedicated to driving a circular economy, helping the brand make 100% of its packaging recyclable by 2025. BanQu champions the circular economy with non-crypto blockchain technology, ensuring transparent and equitable supply chains. As proponents of circularity, both organizations have partnered to financially empower recycling collectors — and simultaneously optimize the recyclables value chain.
Problem
Unable to find work or formal employment, more than 60,000 recycling collectors in South Africa earn a living by collecting packaging waste. Much of what they collect is sold through small buyback centers before ultimately reaching large recyclers. Responsible for recycling 90% of the plastic and packaging in South Africa, recycling collectors / waste pickers are often stigmatized on the streets and remain mostly invisible and unbanked in the financial ecosystem. Additionally, Coca-Cola’s supply chain was increasingly wrought with friction and lack of transparency for both buyers and sellers.
Enter BanQu
Solution
Sowing a Better Ecuador through Traceability and Transparency
Coca-Cola Africa selected BanQu as a partner given the positive impact its technology already had achieved with small-scale farmers across Africa — as well as recycling collectors / waste pickers in Zambia and Colombia. BanQu’s online automated supply chain tracking and payment connectors use blockchain technology to track and trace recycled material across the value chain.
By creating a permanent record of transactions:
- Recycling collectors / waste pickers can demonstrate their earnings, which boosts their visibility and bankability.
- Buy back centers get an automated recording/tracking of cashless transactions that both reduce risk and gives them a better understanding of their business.
- Coca-Cola Africa can track and trace recycled material across the value chain.
“Waste reclaimers perform one of the toughest, yet most important jobs in the supply chain economy. BanQu’s platform provides a solution to financially empower these individuals and buyback centres across South Africa.”
Sustainability Director at Coca-Cola Africa
David Drew