Rising Tide Africa Invests $1M in Ororo Waste Management

Rising Tide Africa, a women-led pan-African angel investment network, has committed up to ₦1.4 billion ($1 million) to Ororo Waste Management Limited, a Lagos-based company focused on used cooking oil (UCO) waste management. The investment, allocated on September 16, will be used to expand Ororo Waste's collection infrastructure and working capital, with additional funding potentially available until December 16.

This capital will finance the purchase of used cooking oil from collectors and cover operational costs. Ororo Waste, which partners with Lagos State for institutional-scale UCO collection and export, aims to capitalize on Nigeria's significant production of vegetable and palm oil, despite the lack of formal infrastructure for UCO recovery.

Ayo Banjo, co-CEO of Ororo Waste, emphasized the importance of funding for essential operational needs. Founded in 2021, Ororo Waste is certified under the International Sustainability and Carbon Certification (ISCC) system for collecting and exporting UCO.