Ghana and the United Kingdom have signed a £215 million Growth Partnership agreement aimed at accelerating investment in infrastructure, job creation and climate-aligned development across key sectors of the Ghanaian economy.
The agreement, announced at the Ghana–UK Investment Summit in London, establishes a two-year framework (2026–2028) for cooperation between the two countries, with a focus on private-sector-led growth, trade expansion, industrial development and skills training.
The partnership is designed to mobilise investment into priority sectors including transport, energy transition, education and maritime infrastructure, while strengthening Ghana’s position as a regional logistics and industrial hub.
A key flagship project under the partnership is a UK-backed £101 million investment in the Takoradi Floating Dock Project, also known as “Shiprite,” which will establish the Gulf of Guinea’s first commercial-scale ship repair and dry-docking facility.
The investment is being made through the UK-supported Private Infrastructure Development Group (PIDG) via its InfraCo platform, which acts as a catalytic investor in infrastructure projects across developing markets.
PIDG’s equity investment forms part of a wider financing consortium that includes ARM-Harith Infrastructure Fund and project developer Prime Meridian Docks Ghana Ltd, alongside development finance institutions and private lenders.
The project has also secured senior and mezzanine debt support from institutions including the African Export-Import Bank (Afreximbank), which is serving as Mandated Lead Arranger, the African Development Bank (AfDB), the Trade and Development Bank (TDB), Petra Pension Schemes and Origen Private Debt Fund.
The Takoradi facility will be developed under a 25-year concession granted by the Ghana Ports and Harbours Authority to Prime Meridian Docks Ghana Ltd, with construction expected to be completed within 18 months.
Once operational, the facility will include a 200-metre jetty, a 1,200 square metre workshop and a floating dry dock capable of servicing vessels up to 200 metres in length.
Currently, vessels operating in the Gulf of Guinea typically sail 10 to 14 days to dry-docking facilities in Walvis Bay, Namibia, or Las Palmas, Spain for maintenance. The new facility is expected to significantly reduce turnaround time, fuel consumption and emissions while improving operational efficiency across the region.
The project is expected to create up to 430 direct jobs, with 30 percent reserved for women, supporting the implementation of the Affirmative Action Act 2024 and expanding opportunities for women in the traditionally male-dominated engineering sector.
Project coordinator Mariam Ogbugo has touted the initiative to transform West Africa’s maritime sector by strengthening short-sea shipping and boosting intra-African trade under the African Continental Free Trade Area (AfCFTA).
She added that the proximity of the facility to regional shipping routes would reduce emissions linked to long-distance vessel movements for repairs, making it a climate-aligned infrastructure investment.
“The project will revamp the maritime industry in West Africa providing much-needed infrastructure to support short sea shipping in the region. By supporting short sea shipping, Shiprite will contribute to boosting Intra-Africa trade in line with the continent’s ambition under the AfcTFA” she said
The UK High Commission described the broader Growth Partnership as a mechanism to deepen economic cooperation with Ghana by mobilising capital into bankable infrastructure projects and supporting long-term private sector growth.
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