Making Cash from Trash

Updated 5/2/2024 2:03:00 PM
Making Cash from Trash

Bekia, Bekia! Are you familiar with this word? Oh yes, I am sure you did it before and sold something to the local waste collector. It is becoming global, and we should develop our standards too.

The more rational decisions we make, the richer we become. This applies to both the individual and national scales. Most of the developed countries have very strong recycling systems. These countries are allowing their citizens to make money while achieving sustainable development goals.

European citizens, for instance, are getting cashback from plastic bottle recycling. The system is called the deposit-return scheme. When you buy a product, you pay a deposit for the plastic container.

You cannot get your deposit back without returning the container to the recycling machine. Almost 30% of plastic waste in Europe is recycled, according to the European Parliament.

Recycling is not only about plastic bottles. It includes all types of plastic containers, cans, metals, used oils, cardboard, and many other materials.

Did you know that the used cooking oil from your French fries can help fuel a flight’s long trip? It already happened in 2023 when a flight successfully travelled from London to New York running 100% on sustainable aviation fuel (SAF). It is made from used cooking oil and waste animal fats, according to business insider.

In Egypt, we have been having the Bekia guy for decades. Recently, the local market witnessed the launch of many recycling initiatives, such as DORNA by Nestle.  

Some private companies are even buying specific types of trash, such as GreenPan and Bekia. Yet, there is no clear and integrated strategy at the macrolevel.

In addition, most Egyptians do not know much about the importance of recycling.

The current economic challenges stand out as a great opportunity to implement such a vision. People will definitely be encouraged to go for recycling solutions, knowing that trash can make cash.

 

 

Mahinaz El Baz

Mahinaz El Baz is currently the Research and Analysis Manager at Egypt Oil and Gas Group. She has over 10 years of experience in economic research and business journalism. Her research areas are mainly macroeconomics, energy economics, and international economics. Mahinaz has provided several consulting services for reputable institutions. She holds a PhD in international economics from Helwan University.