Mauritius explores e-waste recycling investment opportunities in Egypt

Updated 9/22/2024 10:47:00 AM

Arab Finance: An investment delegation from Mauritius is pursuing the establishment of a major e-waste recycling project in Egypt, as per a statement.

This came during a meeting between the CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba and representatives from several Mauritian companies.

The delegation included notable figures such as the Co-founders of Greentech Group Mike Hepworth and Basil Botha, Founder of Baycrest Energy Kaiser Akbar, and CEO of Biocom Umer Hossen, along with other financial and construction experts.

Hossen emphasized the Mauritian business community's commitment to strengthening ties with Egypt, aiming to forge a strategic partnership between Mauritius—sub-Saharan Africa's financial hub—and Egypt, the continent’s premier investment destination.

Botha detailed the investors' plans to launch a substantial project that would recycle electronic waste to recover five key metals: gold, platinum, silver, palladium, and copper.

These metals comprise about 30% of electronic devices, while the remaining 70% consists of plastic, which the project aims to convert into fuel.

He noted that the company's environmentally friendly technology would not only recycle used metals but also significantly reduce the need for new metal extraction.

Also, Botha pointed out that the world generates approximately 10 million tons of e-waste annually.

In Egypt alone, e-waste amounts to around 90,000 tons each year, making it a ripe market for investment in recycling initiatives.

Heiba discussed various investment opportunities and partnerships available in the waste recycling field, offering insights into the favorable conditions for Mauritian companies to engage in this burgeoning industry.