Jospong Group Explained

Jospong Group
Type:Private Conglomerate
Location:Accra, Ghana
Key People:Joseph Siaw Agyepong
Executive Chairman
Industry:Investments
Products:ICT, sanitation, insurance, banking, real estate, domestic services, manufacturing, construction, automobile sales, logistics, agriculture, agro-processing etc.
Homepage:Homepage

The Jospong Group of Companies, commonly referred to as the Jospong Group, is a privately owned conglomerate in Ghana. Joseph Siaw Agyepong, a Ghanaian businessman, is the founder of the group and is a shareholder in each of the companies in the Group. He serves as the executive chairman of the group.[1] [2]

Overview

As of, Jospong Group is a "diversified holding company", with active subsidiaries in Africa and Asia. The group has interests in at least 14 economic sectors with majority of activity in waste management.[1]

With over 60 subsidiary companies, the group subsidiaries are grouped into five clusters. The group's business affairs are controlled by an Apex Board. Each of the five business clusters are overseen by a Chief Operating Officer (COO), with an Apex COO overseeing all five clusters.[1]

History

The group started as a printing press circa 1995, according to Ghanaian sources.[1] Zoomlion Ghana Limited, which initially focused on waste management services, is one of the earlier companies to be established. The group continued to diversify and as of March 2024 it comprised over 60 diverse companies. The group's businesses include waste management, construction, real estate, logistics, finance, and manufacturing among others.[3]

Jospong Group clusters

Administratively, the group's businesses are grouped into the following five clusters:[1]

Environment and SanitationThis is the largest cluster, accounting for 60 percent of the group's operations.[1] The Group collaborates with other entities in the Africa, Middle East and Asia regions, in the sectors of water supply and sanitation.[4] [5]
Commercial and Allied ServicesThis is the second-largest cluster and is responsible for 16 percent of group profits.[1]
Technical and LogisticsThis cluster comprises 13 subsidiary companies as of February 2023.[1]
Information and Communication TechnologyThe subsidiary companies in this cluster include (a) Melchia Investment Centers (b) Subah Infosolution (c) DocuPro and (d) Data Bank.[1]
Financial ServicesThe Jospong Group is an investor in OmniBSIC Bank, Millenium Insurance, Cosmopolitan Insurance, Union Capital and two other financial services companies.[1]

Developments

Waste management

In February 2024, the Lagos State government signed a memorandum of understanding (MOU) with the Jospong Group for the latter to handle the solid and fluid waste generated in the state. Lagos State, with a population of approximately 17.6 million inhabitants generates an estimated 13,000 tonnes of solid and liquid waste everyday according to the Lagos Waste Management Agency (Lawma).[6] [7]

Automobile distributorship

In March 2024, Jospong Group signed an agreement with VinFast, a Vietnamese manufacturer of electric automobiles, assigning Jospong as the exclusive distributer of those vehicles in Ghana and West Africa.[8] [9]

Jospong Internship Program

The group, together with Harvard University conduct a summer program referred to as the "Jospong Internship Program", lasting eight weeks from early June until early August. The competitive program is open to Harvard undergraduates in either Year 3 (Juniors) or Year 4 (Seniors).[10]

See also

External links

Notes and References

  1. Web site: OutstandingBrands23: Jospong Group of Companies—innovative businesses that provide quality and value . Business and Financial Times (TBFT) . 13 February 2023 . TBFT . 12 March 2024 . Accra, Ghana.
  2. Web site: . 2024 . Joseph Siaw Agyapong . 12 March 2024 . GhanaWeb . Accra, Ghana.
  3. Web site: Ghanaremembers.com . A Visionary Journey: The story of Jospong Group of Companies . 12 March 2024 . 12 March 2024 . Accra Ghana.
  4. Web site: Geo Pomona, Ghanaian Firm Consolidate Relations . . 8 April 2024 . Wallace Ruzvidzo . 20 May 2024 . Harare, Zimbabwe.
  5. Web site: Jospong Group partners Komptech to train over 600 stakeholders on integrated solid waste management . 25 April 2024 . Adomonline.com . Adomonline . 20 May 2024 . Accra, Ghana.
  6. Web site: Afrik21.afrik . Nigeria: Ghanaian Jospong wins waste management contract in Lagos . 28 February 2024 . Inès Magoum . 12 March 2024 . Paris, France.
  7. Web site: Jospong breaks into Africa …signs landmark deal to build waste management plants in Lagos state, Nigeria . Ghana Times . 27 February 2024 . Malik Sulemana . Accra, Ghana.
  8. Web site: Pulse Ghana . Jospong Group and VinFast partner to spark electric vehicle revolution in West Africa . 19 March 2024 . Effah Evans . 31 March 2024 . Accra, Ghana.
  9. Web site: 18 March 2024 . Vietnam's VinFast Expands To African Market Via Partnership With Ghana's Jospong . Technode Global . 20 May 2024 . TNGlobal . Singapore.
  10. Web site: Jospong Internship Program . 12 March 2024 . . 12 March 2024 . Cambridge, Massachusetts, United States.

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