Waste management is a pressing issue for sustainable development, particularly in developing countries. Its urgent nature is an outcome of the increasing waste produced and the poor waste management in several developing countries. Waste is associated with negative environmental impacts, dangers to public health, social acceptability, and economic aspects. Several factors exacerbate the waste problem: inadequate waste disposal methods, mixing portions of waste electrical and electronic equipment components with municipal waste, and informal recycling. Other factors are a lack of awareness of the toxic nature of hazardous waste and limited legislation to regulate and control the disposal of hazardous waste. Focusing on municipal waste and waste electrical and electronic equipment, this article classifies the levels of waste management and proposes 26 indicators for assessing and enhancing waste management systems. The purpose of this research is to make a contribution to accelerating the transition to sustainable development in developing countries and to highlight business opportunities.