COVID-19 shrank economies around the world. However, the crisis presents a unique opportunity for many to rebuild green and potentially bounce back stronger than ever.
This opportunity is especially clear for the African continent when considering the circular economy. While products and resources are made, used and disposed of in a “linear economy,” in a circular economy they are recycled, repaired and reused. This approach eliminates waste, strengthens resilience and is fast gaining traction as a new model for sustainable growth.
With the right enabling environment, a circular economy offers a promising opportunity for economic development, value creation and skills development. And with the COVID-19 pandemic forcing countries across the globe to restructure their economies, Africa is in a strong position to take advantage of these emerging opportunities.
In a new report, the World Economic Forum’s Circular Economy initiative and the African Circular Economy Alliance examined what new industries could pose the greatest opportunities for people and the planet. According to this report, “5 Big Bets for the Circular Economy in Africa,” increased circularity in these sectors will support the economy, jobs, and the environment on the continent in the long term.
Making “big bets” on these sectors can lead to a range of benefits for Africa such as higher value supply chains and newfound resilience. Globally, these changes can help the world’s transition to sustainable growth and ensure resources are protected.
Here are a few new industries that could reshape Africa: Read more