With youth unemployment surging above 45% and landfills piling up with unmanaged waste, South Africa stands at a crossroads. At the 2025 Nedbank Green Economy Indaba, Nedbank unveiled the Recycling, New Enterprises and Waste-to-value (ReNEW) Programme, a groundbreaking initiative designed to tackle both crises head-on by transforming waste into economic opportunity for young South Africans.
The ReNEW Programme is a purpose-driven innovation programme that identifies, funds, and scales youth-led businesses operating in the circular economy. From recycling and upcycling to waste-to-product models, ReNEW champions sustainable innovation and unlocks economic pathways for a generation that is too often left behind.
Backed by Nedbank and implemented in partnership with Impact Amplifier, the programme is a key pillar of Nedbank’s Green Economy Social Impact Strategy. Since 2021, the ReNEW Programme has generated over R240 million in social value enterprise development, skills training, and climate resilience projects.
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In recognising South Africa’s urgent social and environmental challenges, the ReNEW Programme has created a platform that identifies, funds, and scales innovative social ventures, and transform waste-related problems into economic opportunities while empowering a new generation of entrepreneurs.
‘We cannot solve South Africa’s economic challenges without empowering its youth – and we cannot secure their future without protecting the planet,’ says Poovi Pillay, Executive Head: Social Impact at Nedbank. ‘ReNEW is not just a programme. It’s a platform for environmental, economic and generational transformation.’
Over an initial 3-year pilot phase, ReNEW will:
identify 100 youth-led circular economy businesses.
Accelerate 10–15 high-potential ventures with tailored business support; and
Fund 5–10 enterprises with an average of R650 000.
But the support goes beyond funding. The ReNEW Programme offers a full ecosystem of enablement through mentorship, strategic guidance, fee-free banking, discounted insurance, and access to Nedbank’s SimplyBiz platform for small and medium enterprises (SME).
‘Young entrepreneurs are showing us what innovation looks like in the face of adversity. ReNEW is our way of backing their brilliance with the resources they need to scale – because waste is only waste if we waste it,’ says Pillay.
ReNEW aims to seed long-term systemic change. The programme’s waste-focused pilot is just the beginning. Future phases will expand into renewable energy, water, and agriculture, and support a holistic shift to a greener, more inclusive economy.
As South Africa looks for solutions to its most pressing challenges, ReNEW delivers a bold, actionable blueprint: create jobs, clean the environment, and empower youth – all at once
