GIP Ghana’s first-of-its kind flexible local currency funding is helping Ghanaian businesses to create jobs and fuel economic growth.
SMEs occupy a critical role in the Ghanaian economy, accounting for over 90 per cent of business enterprises, 60 per cent of the country’s GDP and 80 per cent of all employment. However, despite their importance to job creation and economic growth, SMEs in Ghana struggle to access the funding they need due to high interest rates, heavy collateral requirements, inflexible repayments and short-term facilities.
Recognising that SMEs in Ghana need access to long-term growth capital and business support, in 2023, we launched Growth Investment Partners (GIP) Ghana. The platform is the first of its kind to provide long-term flexible capital, primarily in local currency, to SMEs in Ghana.
In 2024, GIP Ghana began making investments. The first was into a company called eServices Africa Limited (eSAL). The investment will support eSAL’s growth and its global delivery of cost-effective and high-quality outsourcing solutions for businesses. The second investment was in a company called Fido, a digital lender to low-income workers, micro-entrepreneurs and businesses with limited access to traditional financial services.
In its first year of operation, GIP Ghana partnered with a total of six SMEs across different sectors, offering a vital source of capital in a tough economic environment. The platform’s early impact shows the power of patient, tailored finance in unlocking SME growth and deepening their contribution to Ghana’s development.
The Ghana Investment Support Programme, funded by our technical assistance facility, BII Plus, continues to support SMEs in Ghana to access the capital they need to grow. In 2024, the programme helped five SMEs – ranging from manufacturing to agribusinesses – to receive investment.
