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    Interpol: 68 Ghanaians among 260 arrested across Africa for online scams

    Interpol: 68 Ghanaians among 260 arrested across Africa for online scams

    Samuel George demands regulatory action to clean up Ghana’s airwaves amid harmful contents

    Samuel George demands regulatory action to clean up Ghana’s airwaves amid harmful contents

    Ablekuma North Violence: Act on my Ayawaso attack first – Sam George to IGP

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    Minority demands probe into DStv prices, summons Sam George, MultiChoice

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    Ghana charts bold path toward digitally empowered future – Sukparu

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    Ghanaian boxer Ernest “Bahubali” Akushey dies days after crushing defeat

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    Ghanaian boxer Ernest “Bahubali” Akushey dies days after crushing defeat

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    WodeMaya, Rocky Dawuni and three other creatives awarded diplomatic passports

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    Ghanaian coalition to picket Silverbird over Israeli film festival

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    Sports Minister scraps Black Stars management committee bonuses

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    Shatta Wale granted GH₵10m bail with two sureties over Lamborghini case

    EOCO seizes Shatta Wale’s Lamborghini in joint operation with FBI over fraud links

    EOCO seizes Shatta Wale’s Lamborghini in joint operation with FBI over fraud links

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    Partey granted bail in rape, sexual assault case; adjourned to Sept 2

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    Gov’t tasks NAFCO to buy surplus grains ahead of 2025 bumper harvest

    Gov’t tasks NAFCO to buy surplus grains ahead of 2025 bumper harvest

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    One arrested in Ridge Hospital assault – Health Ministry

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    Kenya officially drops Visa requirement for all African countries

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    UG: 107 COVID-19 cases confirmed; no death recorded — Health Minister

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    A/R: 3-year-old boy survives after falling from storey building at Bantama

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    Security agencies donate GH¢1m to support ‘Mahama Cares’

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    Court orders NLC to serve GRNMA with injunction order

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    2025 Hajj: Two dead, five persons repatriated

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    Interpol: 68 Ghanaians among 260 arrested across Africa for online scams

    Interpol: 68 Ghanaians among 260 arrested across Africa for online scams

    Samuel George demands regulatory action to clean up Ghana’s airwaves amid harmful contents

    Samuel George demands regulatory action to clean up Ghana’s airwaves amid harmful contents

    Ablekuma North Violence: Act on my Ayawaso attack first – Sam George to IGP

    Gov’t reviewing broadcasting policy framework amid digital convergence – Sam George

    Minority demands probe into DStv prices, summons Sam George, MultiChoice

    NCA grants one-week extension to stakeholder committee on DStv pricing

    Minority demands probe into DStv prices, summons Sam George, MultiChoice

    MultiChoice to reduce DSTv pricing after gov’t ultimatum

    Ghana charts bold path toward digitally empowered future – Sukparu

    Ghana charts bold path toward digitally empowered future – Sukparu

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    Ghanaian boxer Ernest “Bahubali” Akushey dies days after crushing defeat

    NSA suspends boxing in Ghana over death of “Bahubali” Akushey

    Ghanaian boxer Ernest “Bahubali” Akushey dies days after crushing defeat

    Ghanaian boxer Ernest “Bahubali” Akushey dies days after crushing defeat

    WodeMaya, Rocky Dawuni and three other creatives awarded diplomatic passports

    WodeMaya, Rocky Dawuni and three other creatives awarded diplomatic passports

    Ghanaian coalition to picket Silverbird over Israeli film festival

    Ghanaian coalition to picket Silverbird over Israeli film festival

    Sports Minister scraps Black Stars management committee bonuses

    Sports Minister scraps Black Stars management committee bonuses

    Shatta Wale granted GH₵10m bail with two sureties over Lamborghini case

    Shatta Wale granted GH₵10m bail with two sureties over Lamborghini case

    EOCO seizes Shatta Wale’s Lamborghini in joint operation with FBI over fraud links

    EOCO seizes Shatta Wale’s Lamborghini in joint operation with FBI over fraud links

    Partey granted bail in rape, sexual assault case; adjourned to Sept 2

    Partey granted bail in rape, sexual assault case; adjourned to Sept 2

    Daddy Lumba dead at age 60

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    Gov’t tasks NAFCO to buy surplus grains ahead of 2025 bumper harvest

    Gov’t tasks NAFCO to buy surplus grains ahead of 2025 bumper harvest

    One arrested in Ridge Hospital assault – Health Ministry

    One arrested in Ridge Hospital assault – Health Ministry

    Mahama announces State funeral for helicopter crash victims on Aug 15

    Helicopter Crash: Mental Health Authority warns against sharing of images

    Kenya officially drops Visa requirement for all African countries

    Kenya officially drops Visa requirement for all African countries

    UG: 107 COVID-19 cases confirmed; no death recorded — Health Minister

    UG: 107 COVID-19 cases confirmed; no death recorded — Health Minister

    A/R: 3-year-old boy survives after falling from storey building at Bantama

    A/R: 3-year-old boy survives after falling from storey building at Bantama

    Security agencies donate GH¢1m to support ‘Mahama Cares’

    Security agencies donate GH¢1m to support ‘Mahama Cares’

    Court orders NLC to serve GRNMA with injunction order

    Court orders NLC to serve GRNMA with injunction order

    Operational hours at Kumasi, Tamale Airports extended

    Operational hours at Kumasi, Tamale Airports extended

    2025 Hajj: Two dead, five persons repatriated

    2025 Hajj: Two dead, five persons repatriated

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Jospong Group Pursues $400M Afrexim Bank Funding for its African Project

by Mawuli Innocent
November 19, 2024
in Uncategorised
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Jospong Group Pursues $400M Afrexim Bank Funding for its African Project
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At the sidelines of Conference of Parties (COP29), Baku in Azerbaijan, Jospong Group of Companies (JGC) has revealed plans to secure $400 million funding from the African Export-Import Bank (Afrexim Bank) for comprehensive waste management and rice projects in Nigeria, and Ghana.

The waste management project involves building nine plants to turn waste into recyclable materials, fertilizers, and valuable products. Additionally, Jospong Group is investing in transfer stations and augmenting waste collection services in Lagos, Nigeria.

Jospong Group’s Chief Investment Officer, Mr. Noah Gyimah emphasised the need for broader discussions with Afrexim Bank to support the Group’s investment efforts across Africa.

“The interesting part of that conversation was the various options they offer, including research and development funding for feasibility studies at accommodating rates,” Mr. Gyimah noted.
Jospong Group is expanding across Africa, with advanced discussions underway in Nigeria, Uganda, and Kenya, aiming to replicate its successful waste management model.
As part of the financing arrangement, JGC plans to source an additional $50 million for its rice project in Ghana.
“The Bank expressed great interest in food security and funding options for our rice production business,” Gyimah stated.
He stressed the need for further conversations with Afrexim Bank’s leadership to prioritize key projects, outlining project stages and exploring opportunities for collaboration.
Jospong Group’s subsidiary, Asian African Consortium, is scaling up Ghana’s rice industry by investing in high-quality seeds, modern production technologies, and training for smallholder farmers.
The goal is to replace imported rice, addressing Ghana’s urgent need for local production.
Rice consumption has nearly tripled in the past decade, with individuals consuming approximately 45 kilograms per year.
In 2023, Asian African Consortium partnered with major rice industry players in Thailand and Ghana to develop an integrated rice farming project, aligning with the government’s import substitution objectives.
Ghana spent over ¢6.8 billion (equivalent to $560 million) on rice imports in 2023, despite local production potential. The partnership between Jospong Group and IRRI aims to address this issue and foster self-sufficiency in rice production.
Partnership with Afrexim Bank offers Jospong Group access to advisory services and funding at competitive rates.
Afrexim Bank’s expertise will fast-track the lending process and support Jospong Group’s growth plans.
This strategic partnership will enable Jospong Group to drive sustainable development and economic growth across Africa..

Source: Theoverseeronline
Via: Mawuli Innocent
Tags: Jospong GroupJospong Group Pursues $400M Afrexim Bank Funding for its African ProjectZOOMLION
Mawuli Innocent

Mawuli Innocent

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