Sage Grey Finance Limited has launched a $10 million Circular Economy Impact Fund (CEIF) aimed at financing 120 Nigerian businesses, creating more than 3,000 direct and indirect jobs, reducing carbon emissions by over 10,000 metric tonnes and accelerating investment in sustainable enterprises across the country.
The fund, unveiled in Lagos in partnership with the Circular Business Platform and Perazim Impact Consulting, with support from the Consulate General of the Netherlands, is designed to improve access to affordable financing for businesses operating in Nigeria’s growing circular economy.
The initiative will provide structured debt financing alongside technical assistance and governance support for startups and small and medium-sized enterprises involved in recycling, renewable energy, green manufacturing, waste-to-value solutions and other environmentally sustainable businesses. Brandspur Banking News Desk reports that the facility is also expected to divert as much as 50,000 metric tonnes of waste from landfills, while 30 per cent of the financing has been earmarked for women-led enterprises.
Structured as an unincorporated private debt fund, the CEIF will offer financing through multiple funding windows tailored to businesses at different stages of development, from early-stage ventures requiring technical support to more established companies seeking growth capital. Although the fund is denominated in United States dollars, disbursements will be made in naira to improve accessibility for local businesses.
Sage Grey said the facility builds on its previous investments in Nigeria’s circular economy and has been designed to strengthen impact investing through improved governance, independent oversight and measurable environmental and social outcomes. The revolving debt structure is intended to preserve capital while encouraging stronger financial management and long-term commercial sustainability among beneficiaries.
The company said one of the primary objectives is to address the financing challenges faced by many circular economy enterprises, particularly startups and SMEs that often struggle to meet conventional banking requirements such as collateral, audited financial records and lengthy operating histories.
The fund is expected to help participating businesses scale their operations, attract larger institutional investors over time and contribute to Nigeria’s transition towards a more inclusive, resource-efficient and environmentally sustainable economy. Independent oversight of the facility will include investment and advisory committees, while Deloitte Africa will serve as auditor and Aluko & Oyebode will provide legal advisory services.
