Uncontrolled waste disposal sites remain prevalent in low- and lower-middle-income countries, with organic waste constituting between 50 and 80% of the total openly dumped waste volumes. Waste-to-wealth initiatives focused on biowaste enterprises through female entrepreneurs can advance the eradication of open dumps while creating economic opportunities. This study, therefore, proposes an organizational model that leverages Indigenous female institutions, circular economy concepts, and a closed-loop biowaste management technique that mitigates the open-dump challenge. The Indigenous female entrepreneur (IFÉ) business model leverages circular economy and social circular economy models in the application of a low-tech insect-based biowaste conversion that valorizes municipal solid waste into products that can be reintegrated into the environment and community. The model will be utilized in a Tanzanian pilot study using co-production strategies to derive a sustainable biowaste enterprise. Co-production sees users as authorities in their own circumstances and treats them as primus inter pares with experts, thus facilitating the integration of the relational element of Indigenous societies and motivating cultural appreciation. Conversely, co-production will necessitate revisions to the model in every location where it is applied. The model was successfully test-run in a high-income country, but future research, including the pilot study, will validate the model and highlight innovations.