Absa Kenya Foundation has officially launched the CirculaRising Programme. This initiative, the first and largest of its kind in Kenya, is a strategic partnership with the German Corporation for International Cooperation (GIZ) and the African Guarantee Fund (AGF).
The programme aims to create over 6,000 new jobs within the next three years by empowering women and youth-led Micro, Small, and Medium Enterprises (MSMEs) to lead Kenya’s transition toward a circular economy.
The CirculaRising Programme arrives at a critical juncture for the Kenyan economy. Speaking at the launch in Nairobi, Abdi Mohamed, Managing Director and CEO of Absa Bank Kenya, emphasized that the traditional take-make-use-discard linear model is no longer sustainable.
“The next chapter of growth will belong to economies that create value differently—economies where waste becomes input, efficiency becomes advantage, and sustainability becomes enterprise,” said Mr. Mohamed.
By focusing on circularity, the programme ensures that economic development does not come at the cost of environmental exhaustion.
Co-funded by the German Government and the IKEA Foundation, CirculaRising is structured into three specialized components to meet the needs of diverse business scales:
- The CirculaRising Academy: Fully funded by the Absa Kenya Foundation, this 27-month phase will support over 2,000 microenterprises with coaching, market access, and financing.
- The CirculaRising Accelerator: Implemented by GIZ, this tier targets 150 growth-stage enterprises across Nairobi, Central, Western, Nyanza, and Coastal regions to strengthen market linkages.
- The CirculaRising Scale-Up: This high-impact phase focuses on 25 to 30 large-scale enterprises that handle high waste volumes, helping them integrate global sustainability standards and expand export operations.
Key goals and economic Impact
The programme is designed to deliver measurable results by 2028:
- Job Creation: 6,000+ new and improved employment opportunities.
- Waste Management: Recycling and diverting 6,000 tonnes of waste from landfills.
- Economic Empowerment: Reaching over 2,000 MSMEs and indirectly impacting 30,000 lives.
- Financing: Mobilizing over EUR 2 million in funding for green initiatives.
Patrick Lumumba, AGF Group Director of Capacity Development, highlighted a stark reality: while women own 40% of Kenyan MSMEs, roughly 70% lack adequate financing.
Through the Affirmative Finance Action for Women in Africa (AFAWA) initiative, the partnership aims to bridge this gap, positioning women as the primary catalysts for the green transformation.
The launch was officiated by representatives from the State Department for MSME Development and the Ministry of Environment. Susan Mang’eni, Principal Secretary for MSMEs, reaffirmed the government’s commitment to creating a regulatory environment that supports sustainable enterprises.
Similarly, Dr. Eng. Festus K. Ng’eno, Principal Secretary for Environment and Climate Change, noted that such programs are “essential in driving climate action at scale” while fostering local innovation.
Established in 2024 as a trust of Absa Bank Kenya PLC, the Foundation focuses on Entrepreneurship, Education, Natural Resource Management, and Health. CirculaRising stands as a flagship project.