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 State-based company that collects and exports used cooking oil. The investment aims to support Ororo Waste's expansion plans, including the development of additional collection infrastructure and working capital. The first tranche of the corporate note was received by Ororo Waste on September 16, 2026.
Ororo Waste, in partnership with the Lagos State Environmental Protection Agency, Shell Foundation, and the Waste Pickers Association of Nigeria, recently trained approximately 250 market women, waste pickers, and youths on the safe collection, handling, and storage of used cooking oil. The training, which took place at the Lagos Chamber of Commerce and Industry, covered topics such as quality assurance, traceability, and the value of used cooking oil as feedstock for Sustainable Aviation Fuel and biodiesel.
Nigeria produces an estimated 840,000 metric tons of used cooking oil annually, with over 95% currently going uncaptured. The improper disposal of used cooking oil can contribute to blockages and worsen local flooding, while its unsafe reuse in food preparation can have carcinogenic effects. Ororo Waste has built the infrastructure to capture this supply, holding ISCC certification and having exported thousands of metric tons with zero quality rejections.
Ororo Waste's collection platform tracks every transaction by GPS and QR code from collector to export container and pays collectors by mobile money the same day. The company supplies an expanding cohort of tier-one offtakers and has five years of operational history collecting used cooking oil from businesses and, since March, households and markets. This infrastructure enables market women and waste pickers to earn a fair income for their work.
Yemi Keri, co-founder of Rising Tide Africa, emphasized that the investment is an example of gender-lens investing in practice, as it supports the value created by women and helps them grow it. Ayo Banjo, Co-CEO of Ororo Waste Management Ltd., highlighted the importance of the investment in funding the necessary infrastructure to pay market women and waste pickers a fair income on the same day.
The partnership between Rising Tide Africa and Ororo Waste includes an indicative LOI-framed set of five-year development impact targets, which include growing Ororo Waste's formally paid collector network from 5,000 to over 200,000 by 2031, with women expected to represent at least half of newly onboarded market-level collection points. The targets also include scaling certified UCO collection to over 150,000 metric tons annually by 2031.
Ororo Waste has adopted a governance and ESG framework consistent with the expectations of institutional and development finance investors, including engagement of a top-tier external auditor and counsel, the appointment of independent directors, and regular ESG and impact reporting. The company's ESG Policy is aligned with the UN Sustainable Development Goals and commits to fair employment practices and gender equality in recruitment and promotion.
Key points
- Rising Tide Africa commits up to $1 million to Ororo Waste to expand its collection network for market women and waste pickers in Nigeria.
- The investment aims to support Ororo Waste's expansion plans, including the development of additional collection infrastructure and working capital.
- Ororo Waste has built the infrastructure to capture Nigeria's used cooking oil supply, holding ISCC certification and having exported thousands of metric tons with zero quality rejections.
