The Executive Chairman of Jospong Group, Dr. Joseph Siaw Agyepong, has urged African leaders to find African solutions for the continent’s development instead of depending on other regions.
He said Africa has the answers to its own problems and called on leaders to unite and drive national growth.
Addressing the opening of the Africa Forward Summit at the University of Nairobi in Nairobi, Kenya, on Monday, May 11, Dr. Agyepong criticised the mindset that forces Africans to navigate restrictive conditions when accessing capital markets.
“Why should Africa export her problems when she can build industries to solve them? Why does Africa not have access to capital markets without tough conditions and restrictions? And why has Africa not yet fully utilized and harnessed the wealth of natural resources and human capital available to her?” he asked, presenting the three questions that have guided every decision he has made.
The two‑day summit, May 11-12, co‑hosted by Kenya’s President William Ruto and France’s President Emmanuel Macron, marks the first Africa‑France summit co‑chaired with an English‑speaking African nation.
Under the theme “To Build Together,” the gathering includes seven thematic pillars ranging from energy transition and AI to blue economy and reform of the international financial architecture.
From $3 to the Streets
Dr. Agyepong revealed his humble beginnings, growing up with sixteen siblings and selling goods as a street hawker due to financial difficulties. “My initial capital of 3 dollars from my mother as an investment launched me into the world of entrepreneurship, birthing resilience and enthusiasm,” he said.
From those footsteps, he told the audience, the Jospong Group has grown into a $1.9 billion USD asset-based company with 82 independent subsidiaries across nine business clusters, active in 29 countries, employing 10,000 direct staff and creating more than 250,000 indirect jobs.
Waste: An Unmined Resource, Not a Failure
Addressing the summit’s focus on financial growth through entrepreneurship in waste management, Dr. Agyepong laid out stark global figures: the world generates 2.1 billion tonnes of municipal solid waste annually, set to reach 3.8 billion tonnes by 2050. Sub‑Saharan Africa alone produces over 174 million tonnes a year, yet less than 4% is properly managed or recycled—compared to Europe’s 48% recycling rate.
“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,” he stressed.
He noted that Jospong has spent 20 years building capacity, operating 40 treatment plants across material recovery, liquid waste, medical waste, and hazardous waste, making it the largest waste management operator in Africa. “We have the technical solutions and the financial models. What is still needed is the capital and the partnerships to grow.”
A Direct Challenge to Investors and Rating Agencies
Turning to global finance, Dr. Agyepong urged investors to rethink how they assess risk. “Long-term capital put into African circular economy businesses generates returns that short-term models simply cannot match. In waste management, demand never goes down. Investing here is not being generous. It is building a long-term partnership with a continent.”
He warned that “Asians have developed a way” and called on development partners to remodel their financial architecture to support African‑led solutions. He specifically invited collaboration alongside the African Development Bank, BPI, AFD Group, the International Finance Corporation, European development finance institutions, European EXIM, and European ECA.
Call to African Entrepreneurs and Commitment to Expansion
He used the platform to urge Africa’s youth to seize the continent’s vast opportunities and make their mark, noting that Africa is richly endowed with mineral resources.
“To the youth of Africa, this is your time to rise, challenge yourself, and strengthen yourself. With Africa’s enormous natural resources, you can make an impact,” he said.
On young African entrepreneurs, who make up about 60% of the continent’s population, he called them “our greatest hope and our most urgent responsibility.”
He urged them to become founders and builders, leading the digital era in waste management.
Dr. Agyepong committed the Jospong Group to open collaboration, co-investment, and leading continent-wide conversations on circular economy financing. He also pledged to scale the company’s environmental platform to five new African markets by 2028, create 50,000 green jobs, and open its models to 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 said.
“Africa’s story is being written right now, in this room. When historians look back at this time, they will not see a continent held back by its challenges. They will see the moment Africa chose to turn its greatest challenges into its greatest industries. Waste is not Africa’s shame. Waste is Africa’s next frontier,” he stressed.
He thanked God, Africa, and the partnership, ending with: “God bless you. God bless Africa. God bless our partnership.”
Earlier, French President Emmanuel Macron opened the summit by calling for a push for a new partnership rather than influence.
He explained that the changing geopolitical landscape meant that France could “disagree” with West African governments but “never disagrees with the people.”
In his welcome address, Kenyan President William Ruto underscored the importance of the summit becoming a “turning point” towards a better partnership.
Also present at the summit were the chairperson of the African Union Commission, nearly 30 CEOs from Africa and France, tech and innovation leaders, and some 400 youth delegates whose voices are integrated into the final declaration.
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.