South African recycling company, Kudoti was announced in the top five winners of the 2021 Nestle Shared Value (CVS) Prize. The company was recognised for their innovative impact in recycling through technology.
The CSV Prize has been running for over 10 years and identifies companies and individuals creating initiatives for some of today’s most critical environmental and social issues around the globe. The contest was conducted in partnership with non-profit organization Ashoka.
This year’s competition adopted the theme 'How do we create a waste-free future?’. It aimed to identify and award innovative solutions with a system-change approach and strong growth potential.
Kudoti, meaning trash in Zulu, is turning company waste into recovered materials. The company’s innovative supply chain solutions and digital approach helps track recyclables in real-time, and matches it to demand. The use of technology improves market conditions for waste materials, which drives up recycling behaviour.
“Businesses and individuals have a concept of waste as waste, when we should have a concept of waste as a resource. With new business models, we can change the way that waste is viewed,” said Matthieu de Gaudemar, one of the founders of Johannesburg-based Kudoti.
As one of the winners, Kudoti will receive a cash prize of US$40 000 and will benefit from Ashoka's online resources and workshops to explore potential collaboration with Nestlé and a mentoring programme.
"When people speak of the future, a world of hovercrafts or holograms may come to mind. But at Nestlé, we are seeking a more environmentally futuristic landscape. Through these Awards, we are on a mission to identify and empower market disruptors in the hope of accelerating a waste-free future", says Saint-Francis Tohlang, Corporate Communications and Public Affairs Director at Nestlé East and Southern Africa Region (ESAR).
“Innovations such as Kudoti not only help reduce waste but also drive consumer behaviour change which is key to achieving a waste free future and takes us closer to a circular economy”, he added.
IOL TECH