Bank of Africa circular economy meetings for SMEs

Bank of Africa said in a statement on Thursday that small and medium-sized businesses in the Tangier-Tétouan-Al Hoceïma region are being invited to turn circular economy ideas into bankable projects, through a series of Green Business Meetings held in Larache, Tangier and Tétouan.

The workshops are organised by the bank, its Pan-African Chair for Sustainability and Impact Finance and the Frankfurt School of Finance & Management, in partnership with CGEM Tanger-Tétouan-Al Hoceïma.

They form part of the Switch to Circular Economy (SWITCH2CE) programme, funded by the European Union and the government of Finland and implemented by UNIDO, Circle Economy, Chatham House and the European Investment Bank (EIB). In Morocco, the programme aims to speed up the shift to a circular model by supporting suppliers working in the value chains of European manufacturers and contractors, through capacity building, technical expertise, circular ecosystem development and better access to financing. Under the scheme, Bank of Africa receives direct technical assistance from the EIB and the Frankfurt School.

This first regional tour opened a direct dialogue with SMEs on the difficulties they face and on how their needs could become concrete investment projects, according to the bank. Discussions covered potential circular investments, company needs and the financing mechanisms available to them, with the stated goal of moving beyond awareness-raising towards feasible projects.

The Green Business Meetings usually address sustainable finance more broadly, but this edition focused solely on the circular economy, with emphasis on resource optimisation and the recovery of materials. The bank said it continues to offer SMEs tailored expertise and financing for sustainable investments in energy, water, the circular economy and green buildings.