CAMEROON: NaMé obtains a loan from Société Générale for plastic recycling

NaMé Recycling’s activities should accelerate in Cameroon. Societe Generale Cameroon (SGC), the subsidiary of the French bank Societe Generale, validates a loan of 342 million CFA francs (more than 521,000 euros) in favor of the Belgian-Cameroonian company specializing in the collection and recycling of waste plastics. The loan is repayable in 60 months from the date of signature of the agreement, February 9, 2022.

The SGC allocates these funds within the framework of the Positive Impact Finance program to which the commercial bank has been committed since 2015. Through its CSR (Corporate Social Responsibility) approach, the bank also supports its customers in the development of their activity while effectively integrating environmental, social and social issues. governance criteria (ESG) in their operations and strategies. The financing granted to NaMé Recycling will enable the acquisition of new equipment for the transformation of plastic waste into pallets in the cities of Douala and Yaoundé.

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For NaMé Recycling, the objective is to reduce deforestation in Cameroon. In this Central African country, the manufacture of pallets requires the cutting of wood. The NaMé Recycling project will create 25 additional direct jobs. Currently, the company, founded in 2014 by entrepreneurs Roblain Namegni and Thomas Poelmans, employs 21 people for its collection activity, with 600 direct jobs created in 2019.

In addition to reducing deforestation, NaMé Recycling also aims to reduce plastic pollution in Cameroon. In this Central African country, the company has already recycled more than 1,281 tons of plastic waste thanks to its factories in Douala and Yaoundé. NaMé Recycling also has three collection points in Limbe, Bafoussam and Garoua.

Ines Magoum

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