Access Bank, one of Africa’s leading financial institutions, is making significant contributions towards Africa’s shift to a low-carbon economy. Through a series of programs and partnerships, the bank is playing a pivotal role in supporting circular economy initiatives across the continent. As Africa grapples with unsustainable waste management practices and natural resource depletion, Access Bank’s involvement is helping drive positive change in these areas.
With Africa expected to generate 516 million tonnes of waste annually by 2050, transitioning to a circular economy — where materials are reused, and waste is minimized — is crucial. Currently, only 4% of the continent’s waste is recycled, compared to higher rates in regions such as Europe and China. In response, Access Bank has partnered with various organizations to champion innovative solutions that promote sustainability.
One of the bank’s key contributions is its membership in the Nigerian Circular Economy Working Group (NCEWG), which is developing a comprehensive circular economy policy for Nigeria. The framework aims to guide investments and operations within the circular economy while promoting internal circular practices like paperless banking and waste management. This aligns with international standards such as the UN Sustainable Development Goals (SDGs).
Through the “Leadership Programme for Sustainable Waste Management” (LPSWM), supported by the Access Bank-backed ACT Foundation, the bank has also empowered youth and businesses in the waste management sector. The program, developed in collaboration with Lagos Business School, is equipping participants with the tools and knowledge needed to structure sustainable waste management enterprises. This effort fosters circular practices, addressing improper waste disposal while creating employment opportunities.
Another major initiative is the “Zero Carbon Africa Impact Program”, which Access Holdings launched in partnership with HACEY. This initiative focuses on climate action and the empowerment of Africa’s youth as climate leaders. The program, currently in its fifth week, is providing over 700 young leaders from Nigeria, South Africa, Kenya, Ghana, Rwanda, and Zambia with knowledge on climate science, sustainable investing, and climate change mitigation. The ultimate goal is to create a network of over 35,000 community advocates and launch 28 impactful climate action projects across the continent.
These initiatives reflect Access Bank’s commitment to driving Africa’s transition towards a sustainable, circular economy. By supporting circular businesses and enhancing waste management systems, the bank is helping to create a greener and more resilient future for Africa, one that reduces greenhouse gas emissions and fosters economic growth through innovation and resource efficiency.