ROMCO Group: Ghana Facility Update with Head of Operations (Luke Anyasi)

ROMCO’s new site in Ghana (second in their portfolio) is just about ready to start producing recycled materials for the first time. ROMCO Group’s Head Of Operations, Luke Anyasi, gives us a tour of what it will look like once completed — along with an explanation of their recycling process.

The new facility will produce around 800 tons of secondary materials a month.

Raymond Onovwigun, Romco CEO, talked about the progress on his Linkedin Profile; “This factory is our stepping stone to greater reach throughout Africa and beyond; the most important diversification for us to date. It will prove our model is replicable, scalable, and we can produce more recycled materials throughout developing nations.”

On the wider value the development represents, Raymond continued, “Reaching full recycling capacity of the materials we use is one of the most important objectives we can achieve in the 21st century. Mining our earth must become secondary to recycling, and should only be used when the demand outstrips supply. I believe that system is only possible if we grow recycling capacity significantly in the emerging markets — and that’s exactly what we’re doing here today.”

It’s an exciting development at Romco, full of promise, and we look forward to reporting the progress throughout Q1, 2021.

Godwin Developments: Why the Levelling Up Fund is a win-win for communities as well as investors

Following on from last week’s spending review statement, Stuart Pratt, Group Development Director at Godwin Developments, praised the launch of the new Levelling-Up Fund by saying:

“The creation of the new £4 billion Levelling-Up initiative to support regeneration in communities across the UK is welcome news indeed. It is a clear statement that the Government and the Treasury are committed to investing in infrastructure as the foundation for recovery and future economic growth. It will not only create jobs and incomes in the construction sector in the short term, but also boost longer term business and consumer confidence in regional towns and cities.

The announcement is very encouraging for developers such as ourselves – it will support us significantly in bringing in additional regeneration to many local communities, stimulating private investors to commit new funding to regional cities, creating improved living and employment opportunities, and raising standards for public spaces and sustainability.

We are also pleased see the launch of the National Infrastructure Strategy which will further benefit local communities through the introduction of faster broadband, new roads, cycle lanes, upgraded railways and hundreds of zero emissions buses.

We are certain that both announcements will be well received by local authorities, community groups and local residents as well as investors who will appreciate the positive impact on property in these areas. We look forward to working closely all of these groups to ensure any property development opportunities deliver the combined benefit of government and public sector funding for all stakeholders.”

News update and story from Godwin Developments: https://www.godwingroup.co.uk/why-the-levelling-up-fund-is-a-win-win-for-communities-as-well-as-private-investors/

ROMCO Q3 2020 Report Released

The Romco Quarter 3, 2020 Report has been released, revealing large revenue gains within an environment of pressure, lockdowns, and change.

Romco saw ten-fold revenue growth (994%) from Q3, 2019, and an increase of £1 million from Q2, 2020; reaching £2.8 million in total revenue. This is despite the global pandemic conditions and political unrest in Nigeria.

In response to the effort Romco CEO, Raymond Onovwigun, stated, “We are exceptionally proud of our teams and contractors who have worked safely and effectively throughout pandemic changes, travel restrictions, lock-down measures, industry shifts, demand fluctuations, and political unrest. It can’t be understated the resilience and fortitude our teams and management have shown to consistently deliver production, sales, and product quality throughout the turbulence. All involved are to be highly commended.”

Consistent with the mission, Romco maintain that all production results are ultimately measured through the lens of environmental impact. Any gains are contrasted with the direct hit those numbers represent if those resources were being produced via primary production means (raw materials processing which requires mining and massive power usage.)

Therefore Romco announced that quarter 3, 2020 production represents a net saving of 24,025 mWh of power, 8,446 kt of CO2 emissions, and 14,266 m3 of landfill clearances. 

Massive reduction gains are essential in achieving global sustainability and are the reason for this recyclers existence. By replacing aluminium and copper stock with more recycled materials, Romco is part of the solution in the region to environmental and ecological problems. 

Quarter 3, 2020 has shown strong evidence for the feasibility and profitability of the emerging markets recycling model, and reinforces the need for more investment in the sector.

Romco report that further environmental reductions, production gains, and financial success is expected in q4, 2020 and beyond, with the additional furnace in Nigeria and the entire production plant in Ghana yet to come online. 

The Q3, 2020 Report is available to read online here.