…By Roland Peterson for TDPel Media.
The CEO of Kubik, Kidus Asfaw, revealed that the company encountered numerous rejections from cautious investors before finally obtaining substantial funding.
The result is a collection of interlocking blocks and beams that are currently being utilized in a pilot project—the construction of a daycare center in Ethiopia’s capital, Addis Ababa.
By processing 45 tonnes of discarded plastic daily, Kubik estimates that their plant can avert 100,000 tonnes of carbon dioxide (CO2) emissions per year.
Sergio Pimenta, the vice president for Africa at the Societe Financiere Internationale, emphasized the need for increased financing options and investment support in Africa.