Groupe Duval acquires an equity holding in Africa Global Recycling (AGR)
Real estate developer Groupe Duval has announced it has acquired a 20% stake in Africa Global Recycling (AGR). According to the company, this equity holding illustrates Groupe Duval's desire to strengthen its position as a key waste recycling actor on the African continent.
Founded in 2013 in Lomé, Togo, AGR sorts and sells waste so that it can be transformed. A key player of the green economy and waste recycling sector in sub-Saharan Africa, AGR places waste at the centre of a new model of economic and social innovation on the continent.
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Éric Duval, President and Founder of Groupe Duval stated: "We are proud to support an actor as committed and pioneering as AGR. We are particularly excited about being able to assist it with its growth. The company has a unique positioning thanks to its operational excellence and its ability to have made selling waste attractive by creating a virtuous purchasing circle with businesses and local authorities. Being a family group probably makes us even more aware of the importance that we must give to the environmental and societal context we are part of and that we want to pass on to future generations. Our world is changing. Our family spirit leads us to focus great attention on the world that surrounds us and on the challenges of sustainable development that are connected to it. This is therefore and above all the sense of acquiring this strategic stake."
Edem d'Almeida, co-founder of AGR, added: "Our company which currently has 50 employees, is growing strongly and has pan-African ambitions. We are delighted to welcome Groupe Duval's contribution to the company's equity aimed at assisting us in a new stage of our development. The presence of a key partner with which we share common values, is important to provide our company with both the financial and human resources to continue its very strong growth."