Investing in Africa’s waste management economy

Africa's waste management market has seen significant growth, with the market size estimated to be worth $21.72 billion in 2024, and projected to reach $27.7 billion by 2029, expanding at an annual rate of 4.98 per cent. The continent presents unique opportunities for investment, particularly in regions like West and East Africa that are ripe for sustainable waste management solutions. CNBC Africa recently sat down with Noah Gyimah, Chief Investment Officer at the Jospong Group of Companies, to delve into the evolving landscape of waste management investments in Africa. Gyimah highlighted several key areas of investment within the waste management value chain. He emphasized the importance of investing in collection, transportation, loading transfer stations, recycling, landfill re-engineering, and research and development. These key investments are essential for enhancing waste management processes and driving sustainable solutions across the continent. Gyimah also discussed the innovative financing models driving investment in the waste management sector, particularly through Public-Private Partnerships (PPP). By leveraging PPP arrangements, companies like the Jospong Group have been able to finance waste management projects effectively and ensure long-term sustainability. Additionally, Gyimah shed light on the technological innovations in waste management, such as converting organic waste into fertilizer and compost, and the role of incentives in incentivizing waste collection. The conversation also touched on the expansion plans of the Jospong Group beyond Ghana, with successful ventures in Nigeria, Kenya, Uganda, Tanzania, and other African countries. Gyimah emphasized the importance of tailoring waste management solutions to suit the diverse needs of different regions in Africa. The discussion further explored the scale of investment required in waste management technology and infrastructure. Gyimah outlined the significant investments in processing plants, material recovery facilities, loading transfer stations, and landfills, underscoring the need for sustainable and environmentally friendly practices. He highlighted the company's commitment to environmental protection through adherence to international standards and the reduction of carbon emissions throughout the waste management value chain. Gyimah emphasized the critical role of strong ESG (Environmental, Social, and Corporate Governance) practices in ensuring the sustainability of waste management projects. By prioritizing environmental sustainability and leveraging innovative technologies, companies like the Jospong Group are paving the way for a more efficient and eco-friendly waste management industry in Africa.