Dr. Joseph Siaw Agyepong, the Executive Chairman of Ghana's Jospong Group, has called for African leaders to prioritize homegrown solutions for the continent's development. He spoke at the Africa Forward Summit in Nairobi, Kenya, emphasizing that Africa holds the answers to its own challenges. Dr. Agyepong stressed the need for unity among African leaders to drive national growth.
Speaking at the University of Nairobi on May 11, Dr. Agyepong questioned why Africa faces strict conditions when trying to access global capital markets. He asked why the continent exports problems instead of building industries to solve them. He also wondered why Africa has not fully harnessed its rich natural resources and human capital. These three questions have guided his business decisions.
The summit, held on May 11-12, was co-hosted by Kenyan President William Ruto and French President Emmanuel Macron. This event marked the first Africa-France summit co-chaired with an English-speaking African nation. The theme was "To Build Together." The summit explored seven key areas. These included the energy transition, artificial intelligence, the blue economy, and reforming international financial systems.
Dr. Agyepong shared his personal journey from poverty to success. He grew up with sixteen siblings in difficult financial circumstances. He started as a street hawker selling goods. His mother gave him an initial capital of 3 US dollars. This small investment launched his entrepreneurial path. It instilled resilience and enthusiasm in him.
From these humble beginnings, the Jospong Group has grown significantly. It is now a $1.9 billion USD asset-based company. The group operates 82 independent subsidiaries. These are organized across nine business clusters. Jospong is active in 29 countries. It directly employs 10,000 staff. It also creates over 250,000 indirect jobs. This highlights the economic impact of focused entrepreneurship.
Addressing the summit's focus on financial growth through waste management, Dr. Agyepong presented alarming global statistics. The world generates 2.1 billion tonnes of municipal solid waste each year. This figure is projected to reach 3.8 billion tonnes by 2050. In Sub-Saharan Africa alone, over 174 million tonnes are produced annually. Less than 4% of this is managed or recycled. This contrasts sharply with Europe's 48% recycling rate.
Dr. Agyepong declared that "Every tonne of unmanaged waste in Africa is not a failure. It is an unmined resource waiting for the entrepreneur bold enough to claim it." Jospong Group has spent two decades building its waste management capacity. It operates 40 treatment plants. These facilities handle material recovery, liquid waste, medical waste, and hazardous waste. Jospong is now the largest waste management operator in Africa. The company possesses the needed technical solutions and financial models. It seeks capital and partnerships to expand its operations.
He urged investors to re-evaluate their approach to risk assessment in Africa. Dr. Agyepong stated that long-term capital invested in African circular economy businesses yields returns that short-term models cannot match. He highlighted that the demand for waste management services never decreases. Investing in this sector is not charity. It is building a long-term partnership with the continent.
Dr. Agyepong warned that "Asians have developed a way." He called on development partners to reform their financial architecture. This reform should support African-led solutions. He invited collaboration with institutions like the African Development Bank, BPI, AFD Group, the International Finance Corporation, European development finance institutions, European EXIM, and European ECA. These partnerships are crucial for scaling African initiatives.
He encouraged Africa's youth to seize the continent's vast opportunities. Africa is richly endowed with mineral resources. He described young African entrepreneurs, who form about 60% of the population, as "our greatest hope and our most urgent responsibility." He urged them to become founders and builders in the digital era of waste management.
The Jospong Group is committed to open collaboration and co-investment. It aims to lead continent-wide discussions on circular economy financing. The company plans to expand its environmental platform to five new African markets by 2028. This expansion will create 50,000 green jobs. Jospong will open its business models for co-investment on equal terms. "The green economy is not coming to Africa. We are building it. The invitation is open to all who choose to build with us," he stated.
Dr. Agyepong concluded by stating that Africa's future is being written now. He believes historians will see this period as the moment Africa chose to turn challenges into industries. He reiterated, "Waste is not Africa’s shame. Waste is Africa’s next frontier."