The Alternative Bank has announced the launch of Wastebanc, Nigeria’s first digital recycling initiative dedicated to transforming the recycling landscape.
Wastebanc is set to provide an innovative benchmark for responsible waste management and sustainability practices.
This was disclosed during the product launch in Lagos, with key stakeholders in the financial and waste management industries in attendance.
During a live demonstration of Wastebanc’s innovative platform, it was revealed that the initiative incentivizes users for their eco-friendly contributions, allowing them to earn rewards by responsibly depositing recyclables, fostering personal engagement, and benefitting from their environmental actions.
Additionally, the app streamlines recycling by enabling convenient pick-up requests and scheduling from preferred locations.
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Speaking at the product launch, Mohammed Yunusa, director of digital business and innovations, the Alternative Bank emphasised, “Wastebanc isn’t just an app; it’s an ambitious initiative designed to empower individuals, businesses, and communities to profitably engage in recycling while safeguarding our planet’s future. The app offers a user-friendly interface that seamlessly connects users to a network of recycling resources, incentives, and an innovative approach to waste management, making a significant and measurable impact on our environment.”
This initiative signifies a notable collaboration as Alternative Bank partners with The Lagos Waste Management Authority (LAWMA). This partnership underscores the joint commitment to fostering a greener, more sustainable future.
Muyiwa Gbadegesin, LAWMA’s managing director, expressed his excitement about the collaboration, stating, “Our partnership with Alternative Bank and the introduction of the Wastebanc app represent a great significant step forward in our collective effort to encourage responsible waste management practices in Lagos. Together, we aim to promote environmental consciousness and incentivize communities to actively participate in recycling initiatives for a healthier Lagos.”
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In his remarks, Abubakar Suleiman, CEO, Sterling Bank Limited, noted, “We are confident that this collaboration with LAWMA serves as a testament to our shared dedication in cultivating a sustainable ecosystem, propelling us towards a future where responsible waste management is a fundamental pillar of a thriving, environmentally conscious society.”
He further added, ‘’Wastebanc is poised to extend its reach to encompass all states within Nigeria. Our ambition is to ingrain this transformative approach to recycling nationwide, fostering a more sustainable and responsible waste management culture that transcends borders and resonates throughout every community.”
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