The UK’s development finance institution, British International Investment (BII), is expected to engage partners in Ghana this week as part of efforts to review and expand its growing investment portfolio in the country.
BII currently holds over US$200 million in investments in Ghana, with a significant concentration in the energy sector, and has in recent years deepened its support for small and medium-sized enterprises (SMEs) through innovative financing platforms.
A key component of BII’s recent activity is the Growth Investment Partners (GIP) Ghana, launched in July 2023 with an anchor commitment of up to US$50 million. The platform provides long-term, patient, primarily local-currency financing to larger SMEs, offering loans ranging from US$500,000 to US$5 million. To date, GIP has invested in 14 SMEs, supporting approximately 3,400 jobs, with 60% of beneficiary businesses being women-owned or women-led.
The initiative addresses persistent financing challenges facing Ghanaian SMEs, including high interest rates, short loan tenors, and stringent collateral requirements, which have constrained business expansion and job creation. SMEs remain a critical driver of the economy, accounting for over 90 per cent of enterprises, contributing about 60 per cent of GDP, and providing nearly 80 per cent of employment, yet many continue to struggle to access affordable, long-term capital.
In addition to GIP, BII has extended a US$20 million loan facility to First National Bank Ghana (FNBG) to expand financing for micro, small, and medium-sized enterprises (MSMEs) across the country.
BII has had earlier engagements with Finance Minister Dr. Cassiel Ato Forson met with representatives of BII to explore strategic investment opportunities, particularly in agribusiness and the financial sector. The Minister also invited BII to support the repositioning and growth of Consolidated Bank Ghana (CBG) as part of broader efforts to strengthen the banking sector.
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