The United Nations (UN) Environment, Development and the International Union for Conservation of Nature (IUCN) recognise small and growing businesses in developing countries which work towards achieving global goals for green living.
Top eco experts from around the globe award the best innovations on the continent with financial and technical assistance and the latest winners had been described as “exceptional examples of entrepreneurial talent that not only support green growth goals, but inspire other individuals and businesses to contribute as well.”
The SWITCH Africa Green Project were implemented by UN Environment and funded by the European Union, the Government of Flanders and international law firm, Hogan Lovells.
Nhlanhla Ndlovu, South African founder of the Low Carbon Award Winner Waste Management business enterprise, Hustlenomics, said that the key success indicator for his business would be to see a marked decline in backyard shack dwellings in township communities.
Hustlenomics targets low-income homeowners with informal backyard shacks who cannot access home improvement financing. Shacks are replaced with durable structures using recycled bricks. Applying an innovative shared-home financing model, rental income is generated from the completed to recoup building costs, before eventually obtaining full ownership. The initial costs borne by Hustlenomics include building materials, labour costs and transaction costs to find tenants to occupy the space.
Hustlenomics had been working with the Climate Innovation Centre South Africa( CISCA) and from the start of the business is gaining impressive results by revolutionising low-income households and simultaneously dealing with the scourge of demolition waste.
“It’s about being aware of what your own strengths are and being willing to work towards shared goals with other people.” – Nhlanhla Ndlovu