Jospong Group Enters Ambitious $1 Billion Carbon Credit Financing Deal With EKI Energy

The Jospong Group of Companies (JGC) has inked a a mouthwatering Memorandum of Understanding (MoU) with EKI Energy Services Ltd, setting sights on catalyzing carbon credit development in Ghana.

This strategic collaboration aims to mobilize an impressive USD1 billion in carbon credit financing, with a commitment to creating over a 1000 job opportunities by 2030 across Ghana and West Africa.

Under the terms of the agreement, EKI will provide JGC with essential technical assistance for the successful implementation of the project. The exclusivity of the partnership is secured for a robust five-year period.

Dr. Joseph Siaw Agyepong, Chairman of JGC, highlighted the collaborative focus on technical, financial, and developmental aspects. Speaking at the signing ceremony in Accra on Tuesday, he expressed confidence in EKI Energy’s expertise and leadership in climate change, emphasizing their role as the ideal partner for this venture.

We are partnering with EKI Energy because of their experience, so they can hand-hold us and propel strong development in the sector,” Dr. Agyepong stated.

In a commitment to nurturing future leaders in climate studies, Dr. Agyepong announced the provision of scholarships for 10 individuals interested in pursuing studies in climate change this year.

Chief Executive Officer of EKI Energy Services Limited, Manish Dabkara, assured strong support in attracting carbon investments for JGC. With a track record of supplying over 200 million offsets, he emphasized his company’s technical knowledge and experience to deliver on their mandate.

Witnessing the ceremony, Dr. Henry Kokofu, Executive Director of the Environmental Protection Agency (EPA), hailed the collaboration as a significant milestone that will position Ghana prominently on the global map. He applauded JGC and its Chairman for the bold initiative in investing and leveraging possibilities in the climate change space.

This is one of the legacies of President Akufo-Addo, who has championed private sector participation in the climate change arena,” Dr. Kokofu remarked, commending the Jospong Group for taking the lead where others hesitated.

EKI Energy Services Ltd. (EKI) is a leading Carbon Credit Developer & Supplier globally, listed on the Bombay Stock Exchange (BSE). With over 15 years of experience, EKI is a market leader in climate change, carbon offset solutions, and carbon asset management, operating in 16 countries with over 3500 clients worldwide and in this collaboration with the JGC.

The Jospong Group of Companies on the other hand is a diversified holdings company in Ghana, operating across 14 sectors of the economy, with a significant presence in Waste Management, ICT, Banking, as well as Automobile and Equipment. The company’s operations extend to other African countries and Asia.