In line with Nestlé Global’s commitment to preserve the environment for future generations and enhancing livelihoods of the informal sector, Nestlé Egypt has launched the Reverse Credit initiative to collect and recycle plastic packaging waste.
It has been established through a collaboration between the Egyptian Ministry of Environment, CID Consulting and PayMob and aims to incentivise waste collectors in the informal sector to boost their collection capacity.
At the launch, HE Yasmine Fouad, Minister of Environment said: “The waste management ecosystem relies on three main pillars: The infrastructure which consists of factories and landfills, the operations of this infrastructure, and the private corporate support and CSR support induced within.
“Nestlé Egypt’s initiative is the first project in the Middle East to gather and recycle plastic packaging materials as an example of extended product liability.”
Laila Iskandar, former Minister of Urban Renewal and Informal Settlements, said: “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.”
Moataz El Hout, CEO of Nestlé Egypt, said: “Nestlé identified 20 countries that contribute to more than 50% of the world’s plastics consumption, and Egypt is one of them. “We are working in these countries to boost recycling, with Cairo the first city. “This initiative will incentivise traditional waste collectors, given that they are the most essential pillar of the value chain.”
Reverse Credit not only has a positive impact the environment, but also on the informal economy through financial inclusion, women’s empowerment and digital transformation. The financial incentives received by participants enabled families to allocate larger amounts to nutrition, education and health. Nestlé Egypt trained all participants on how receive their incentives through e-wallets.