The funding will be channeled into Mohinani’s subsidiaries — Polytanks Ghana and Sonnex Packaging Nigeria — which oversee the company’s dedicated rPET plants.

Each facility is equipped with an annual capacity of 15,000 tonnes of food-grade recycled resin, a direct substitute for virgin PET widely used in bottles and other packaging materials.

Ashok Mohinani, Chairman of the Mohinani Group, described the partnership as a landmark in the company’s sustainability agenda.

“With Norfund’s support, we are accelerating our mission to establish a closed-loop bottle-to-bottle recycling system across West Africa and beyond. This will not only create jobs but also reinforce the circular economy while tackling environmental challenges,” he said.

Norfund’s West Africa Regional Director, Naana Winful Fynn, underscored that the deal aligns with the institution’s goal of building robust recycling industries in partnership with local businesses.

“By enabling Mohinani to expand its high-capacity recycling infrastructure, we aim to support collection networks, cut reliance on imported raw materials, generate employment, and reduce unmanaged plastic waste,” she noted.