IKEA-Funded Swift Programme Launches to Support Tackling Waste in Kenya

IKEA-Funded Swift Programme Launches to Support Tackling Waste in Kenya

Swift Programme has today been launched to help fund and support enterprises involved in waste management and recycling in Kenya. Below is a summary of what we picked from the launch; 

SWIFT Programme - Tackling Waste in Kenya

Swift is a program funded by the IKEA Foundation with a budget of up to $5.1 million. The program aims to support businesses involved in tackling waste in Kenya in terms of incubation and acceleration costs over three years. It targets to support of 110 enterprises in the 3 years. The first call for applications starts on February 29th. 

The program aims to create 6,000 jobs, with 2,000 being direct positions and 4,000 indirect. Additionally, it aims to help companies generate over $10 million in revenues. The program will also collaborate with five counties, represented by various CES and chief officers, to establish an enabling policy environment.

Addressing the question of waste management, the program encompasses aggregation, separation, processing, and repurposing of solid waste. This includes individuals and businesses involved in waste reduction and management at various levels of the value chain.

The incubation model under the Swift program requires businesses to be legally registered entities operating within the waste management sector in Kenya. Applicants must have at least two years of operation, maintain proper books of account, and possess a working prototype. Revenues generated by the business should range from $10,000 to $30,000, and the business must employ at least five people, either directly or indirectly. 

Swift has promised to provide five key service pillars for the incubated and accelerated enterprises. These include business advisory support, focusing on business models, structures, marketing, and other aspects to enhance the overall business environment.

No comments yet. Be the first to comment.

Please log in or register to leave a comment.