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Jospong Group & EKI Energy ink $1billion carbon credit deal to Empower Ghana & West Africa

January 23 , 2024

The Jospong Group of Companies (JGC), a diversified holdings company in Ghana with operations in other African countries and Asia, has signed a Memorandum of Understanding (MoU) with EKI Energy Services Ltd, a leading carbon credit developer and supplier across the globally, to initiate a comprehensive carbon credit development programme in Ghana and West Africa.

By 2030, the five-year exclusive arrangement hopes to finance over $1 billion in carbon credits and add over 1,000 new jobs.

As per the agreement, JGC will receive the necessary technical assistance from EKI Energy Services to ensure the successful implementation of the project. JGC Chairman Dr Joseph Siaw Agyepong emphasised the importance of technical, economical, and developmental considerations. EKI, he remarked, was the perfect partner for this project and lauded their expertise on climate change.

“We chose EKI for their experience,” said Dr Agyepong, “so they can guide us and drive strong development in the sector.” In keeping with JGC’s objective to train the upcoming generation of leaders in this field, he indicated that ten scholarships will be available to students this year who are taking climate change courses.

Manish Dabkara, the CEO of EKI Energy Services, assured JGC that the company will receive a lot of help in attracting carbon investments. He highlighted his company’s expertise and experience with over 200 million offset supply to reaffirm his company’s capacity to meet its objectives.

The Environmental Protection Agency’s (EPA) Executive Director, Dr Henry Kokofu, praised the collaboration as a significant turning point in Ghana’s understanding of global climate change. He commended the JGC for being the trailblazer in this crucial field, demonstrating initiative and leadership. Dr Kokofu praised President Akufo-Addo’s dedication to private sector involvement in climate change, saying, “JGC is leading in an area where others hesitate.”

The carbon credit development programme in Ghana and West Africa is anticipated to be significantly impacted by this strategic cooperation between JGC and EKI Energy Services Ltd. It is a step in the direction of accomplishing the Paris Agreement and the Sustainable Development Goals (SDGs) of the United Nations.

Source: Energy Ghana