Rising Tide Africa backs used cooking oil firm Ororo Waste with $1 million
The investment comes as Ororo Waste attempts to scale a business around Nigeria’s used cooking oil waste stream.
Women-led investment firm Rising Tide Africa has pledged a $1 million investment to Ororo Waste Management Limited, a Lagos-based company specializing in the collection and export of used cooking oil (UCO). This funding will bolster Ororo's infrastructure and working capital, enabling the company to expand its reach to over 40 collection hubs across Nigeria within the next five years.
Ororo Waste, which has already partnered with Lagos State, is on track to increase its formally paid collector network from 5,000 to more than 200,000 by 2031 and its certified UCO collection from a few thousand metric tonnes to over 150,000 tonnes annually. The investment aims to provide dignified incomes to thousands of women and young people involved in the collection process, leveraging the high demand for UCO in global biofuel markets.
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