The Visionscape Group, a leading Nigerian waste management company, has announced an 88% increase in earnings for the fiscal year 2017. This impressive growth is attributed to increased contract wins and the implementation of innovative waste management solutions.
According to the company’s financial statement, the Group’s revenue rose from N8.5bn ($23.5m) in 2016 to N16bn ($44m) in the year under review. The company’s CEO, John Irvine, attributed this success to “the continued growth of Visionscape’s core waste management business”.
Visionscape’s main focus is on waste collection, transportation, and disposal. The company’s innovative waste management solutions include the introduction of the waste-to-energy (WTE) facility in Lagos, which has the capacity to convert 24 tonnes of waste into 10 MW of electricity per day.
Another key factor in the company’s growth was the expansion of its business into other African countries. Visionscape has expanded its operations to Rwanda and Ghana, which helped to increase the company’s revenue.
While Visionscape’s growth is a testament to the effectiveness of the company’s innovative waste management solutions, it is also a reflection of the increasing focus on environmental sustainability in Nigeria. The country produces over 32 million tonnes of waste annually, and much of this waste ends up in landfill sites.
The company’s waste management solutions are an effective way to reduce environmental damage and promote sustainable waste management practices. Visionscape’s impressive growth is a promising sign that sustainable waste management is not only possible but also economically viable.
However, it is important to ensure that the growth of waste management companies like Visionscape does not overlook the social impact of waste management practices. As waste management becomes more sophisticated, it is essential to ensure that no one is left behind. This means engaging with communities, creating jobs, and prioritising the well-being of all citizens in the waste management process.
In conclusion, Visionscape’s impressive growth is a testament to the company’s commitment to innovative waste management solutions. As environmental sustainability becomes an increasingly pressing issue in Nigeria, Visionscape’s growth is a promising sign of progress in sustainable waste management practices.
