Table of Contents
Key Points
- Jospong Group is set to receive $400 million from AfreximBank to enhance waste management in Nigeria and rice production in Ghana.
- The company plans to construct nine advanced waste processing facilities in Lagos, aiming to convert waste into valuable products and improve environmental sustainability.
- JGC is expanding its operations into Uganda and Kenya, replicating its successful waste management models to address environmental challenges in these countries.
The Jospong Group of Companies (JGC), led by Ghanaian businessman Joseph Siaw Agyepong, is set to secure $400 million in funding from the African Export-Import Bank (Afreximbank) to advance waste management and rice production projects across Africa. Announced during the COP29 summit in Baku, Azerbaijan, this funding highlights JGC’s commitment to tackling environmental challenges while enhancing food security.
In Lagos, Nigeria, JGC plans to construct nine advanced facilities to convert waste into recyclable materials, fertilizers, and other valuable products. This initiative includes upgrading transfer stations and improving waste collection services, boosting efficiency and sustainability.
Noah Gyimah, JGC’s chief investment officer, highlighted the significance of the partnership, stating, “It is crucial to engage in broader discussions with Afrexim Bank to facilitate Jospong's growth across the continent.”
Expanding sustainable operations across Africa
Beyond Lagos, JGC is expanding its waste management model into Uganda and Kenya. In Uganda, the group is collaborating with the government to transform a 39-acre landfill in Wakiso District into an ecological recreational facility.
Jospong has also launched a $22 million wastewater treatment plant in Tamale, Ghana, with Hungarian government funding. This plant promotes sustainable waste management, improves public health, and creates local jobs.
Enhancing rice production in Ghana
In Ghana, JGC is investing $50 million of the Afrexim Bank funding into its rice production project, targeting reduced reliance on imports. Through its subsidiary, the Asian African Consortium, the group is providing high-quality seeds, modern technologies, and training for smallholder farmers to boost yields and promote climate-smart agriculture.
The rice initiative is part of JGC’s broader commitment to sustainability, integrating eco-friendly practices to reduce emissions and advance sustainable development.
Driving change across Africa
Jospong Group’s funding agreement underscores its role as a leader in addressing environmental and food security challenges across Africa. By combining innovative waste management and agricultural strategies, the group aims to create sustainable solutions that foster economic growth and resilience across the continent.
