Accra: The Jospong Group of Companies (JGC) has revealed plans to secure a $400-million facility from the African Export-Import Bank (Afrexim Bank) for comprehensive waste management and rice projects in Ghana and Nigeria. The waste management initiative involves building nine plants to convert waste into recyclable materials, fertilizers, and other valuable products. Additionally, the group aims to invest in transfer stations and enhance waste collection services in Lagos. According to Ghana News Agency, Mr. Noah Gyimah, Jospong Group's Chief Investment Officer, discussed the need for broader dialogues with Afrexim Bank to support the Group's investment efforts across Africa during the sidelines of COP29 in Azerbaijan. Mr. Gyimah highlighted the various options offered by Afrexim Bank, including research and development funding for feasibility studies at accommodating rates. Jospong Group is also engaging in discussions in Nigeria, Uganda, and Kenya to replicate its successful waste management model in thes e countries. As part of the financing arrangement, JGC plans to source an additional $50 million for its rice project in Ghana. Mr. Gyimah noted that investors have shown interest in food security and funding options for the company's rice production business. Further conversations with Afrexim Bank's leadership are underway to prioritize key projects, outline project stages, and explore collaboration opportunities. Jospong Group's subsidiary, Asian African Consortium, is working to scale 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 and address Ghana's urgent need for local production. Rice consumption in the country has nearly tripled over 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 go vernment's import substitution objectives. The partnership with Afrexim Bank will provide Jospong Group access to advisory services and funding at competitive rates. Afrexim Bank's expertise is expected to fast-track the lending process and support Jospong Group's growth plans, enabling the company to drive sustainable development and economic growth across Africa.