E-waste should be the focus for entrepreneurs

For young and innovative minds, entrepreneurship is more appealing than government or any other service. While the job sector is Bangladesh has expanded phenomenally, creating lucrative opportunities in the corporate sector, a large number of young are more interested to become entrepreneurs; one arena which remains untapped is e-waste. As per a TBP report, using a BUET survey as reference, the huge potential of the e-waste recycling industry is still untapped as only 3 per cent of the total e-waste generated in the country is recycled, which is much lower than other developing countries.

It might come as a revelation for many but Bangladesh is one of top 10 e-scraps producing countries in the world, generating three million metric tonnes (MMT) of e-waste every year.

The BUET survey also states that the annual growth of e-waste generation is 30 per cent. Industry insiders say that at present, the e-waste recycling industry is worth Tk. 150 crore and its annual growth is 15 per cent. The country presently exports recycled items to the USA, Japan, Singapore, India and Pakistan.

It’s no surprise that mobile phones generate highest 10.5 kilotons of e-waste, TV sets take 1.7 lakh tonnes, and ship breaking yards generate more than 25 lakh tonnes of e-waste each year.

While e-waste always had a market, its size multiplied at a phenomenal pace since the mid-90s when mobile phones became an integral part of our lives.

In Bangladesh, with a massive young population, the mobile phone is not just a communication tool but an essential fashion accessory that needs to be changed every two years.

The e-waste or damaged electronic goods also computers, TVs, DVD players, stereos, printers, microwaves, refrigerators, air conditioners, lamps, toys, video-game consoles, power tools etc. Usually, a used phone is sold once and then they lose the market demand very swiftly. However, the components inside remain valuable and can be recycled.

The other reason phones are scrapped and not sold is because users feel uncomfortable with the idea of a personal phone, which stored their private memories and images, to be used by someone else.

The BUET survey mentions that mobile and computer PCB-based metal recovery business in the country will be worth around $1 billion by 2030. According to Allied Market Research, in one million mobile phones in e-waste, there is around 250 kg of silver, 24 kg of gold, and nine tons of copper that can be recovered. This also benefits manufacturers to produce electronic devices with lower cost and gain cost advantages over competitors.

Old electronic devises can be recycled to provide parts or to manufacture new devices. Precious metals including silver, gold, palladium, platinum, indium, and gallium can be extracted from e-waste and these are widely used in production of consumer electronics and IT & communication products.

However, the recovery of the precious metals need advanced technology for which the government needs to set up training centres. Private organisations can hire expertise from overseas to train locals and then banks can provide loans under SME schemes to aspiring entrepreneurs.

Meanwhile, universities can become the platform where the whole e-waste arena can be discussed in detail because the trade requires a solid understanding of modern day technology.

However, this is not rocket science and therefore, once there is a strategic approach, the sector can boom within a short period.

While there is money in this, the environmental aspect cannot be overlooked because safe extraction of metals without causing hazard to humans and ecology trumps the lure of easy money.

Expertise can be sought from China, the largest e-waste generating nation which produced more than 10 million metric tonnes in 2019 and documented 1.5 million metric tonnes to be recycled.