Best Ideas 2018 features all the nominated entries submitted to the Youth Citizen Entrepreneurship Competition under ‘Submit your Idea’ category. All the entries consist of innovative solution or proposition for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage. If you want to know the 10 finalists in this category, click HERE
Beco Waste Management
Explain your idea in details:
Beco Waste Management main objectives and mission statement is to reduce to the lowest minimum possible, the sight of Municipal Solid Waste in our permitted zones, areas, locations and jurisdictions. Our main activity and focus is on generated Municipal Solid Waste, but with a more concentrated focus on improperly disposed Municipal Solid Waste in Benin City, Edo State and Nigeria in general. Beco Waste Management designed innovative approach is going to be starting out with the provision of "a volume impersonal service" from which further developments will be made which include but not limited to; reusing of reusable items in the waste; recycling of wastes into other finer and finished products and the establishment of the first standard waste management company in Edo State, and one of the top 3 in Nigeria.
Expected impact of your idea on sustainable development
Beco Waste Management target clients/customers comprises of all waste generators, but with a niche focus on the following groups; Households, small business owners, rural markets, and developing communities. Our reason being that, this group of people tend to have the largest amount of improperly disposed waste. Among the measures to evaluate the company's success will include but not limited to; Having 5 zones accredited to the company before the end of the first phase of its proposed product/service offering; Having an average of 8,000 clients/customers base; Having a ready blueprint of the second phase of it's proposed product/service offering before the end of the first phase.
Plans for implementation and sustainability
Beco Waste Management business model has being designed to be in 3 phase in line with its growth and expansion strategy, of which the company is going to be starting out with revenue generated from waste collection and disposal services. The remaining 2 business model has also being designed to be unveiled along with the business growth and expansion strategy which is going to include revenue generated from sales of reusable materials recovered from the waste, and finally revenue generated from sales of final products gotten from the recycling of unusable wastes. We have been able to get a pre-seed investment of N100,000 from a private investor, which has been efficiently utilized in the conducting of primary and secondary market feasibility study, general requirements from the government, and payment of legal fees. Additionally, we have also gotten an in-kind contribution towards the cause in the form of a 5 months office lease which became effective on the 1st of July 2018. We plan to raise a seed investment of N500,000 which is going to be used in the completion of the company's incorporation, purchase of office furniture's, leasehold fixtures, registration and launching of company's website and filing and obtaining of the company's trademark. After which we will proceed to raise additional N12,300,000 to cover startup costs which includes capital expenditures and working capital. The N12,300,000, has been planned to be raise in the form of debt either through bank loans or issuance of bonds to private professional investors.
My full names are Agbonlahor Bright Kule, and i am the founder and CEO of Beco Waste Management. I am 26 years, 3 months and 7 days old as at the time of this submission. I had my primary and secondary education in Benin City, after which i proceeded to study further and got a Diploma in Civil Engineering from the prestigious Auchi Polytechnic, Auchi. I was into aluminum and copper waste scavenging and resale in 2007 prior to my polytechnic education. In 2012, i was awarded an MBA (Master Bar Academy) certificate by Diageo, a British multinational alcoholic beverages company and the world's largest producer of spirits and a key producer of beer, for successfully completing Module 101 of the Master Bar Academy.