Jacob Kholi is the Chief Executive and Investment Officer, Growth Investment Partners Ghana
Growth Investment Partners (GIP), an investment platform established by British International Investment, has welcomed Norfund and Axis Pension Trust as new investors, strengthening its capital base to support Ghanaian small and medium-sized enterprises (SMEs).
The two investors are committing $20 million to the platform, reflecting growing confidence in GIP’s model of deploying flexible, local currency financing to high-potential businesses.
The milestone was marked at a stakeholder reception in Accra, bringing together investors, regulators and business leaders. The event highlighted GIP’s role in mobilising both domestic and international capital, including local pension funds, to support long-term enterprise growth.
Since its launch in 2023, GIP has built a portfolio of 16 companies, deploying over $40 million and supporting more than 3,356 jobs, including 533 new roles across sectors such as manufacturing, agriculture, financial services and healthcare.
GIP provides tailored “partnership capital” alongside operational and strategic support to help businesses scale sustainably.
Jacob Kholi, Chief Executive and Investment Officer of GIP Ghana, said, “The addition of Axis Pensions and Norfund marks an important milestone for GIP and reflects growing confidence in our investment model. Over the past two and a half years, we have demonstrated that flexible, local currency capital, combined with hands-on support, can unlock meaningful growth for Ghanaian businesses. This new capital positions us to scale that impact further.”
Leslie Maasdorp, CEO of BII, said the development reflects the institution’s broader ambition to mobilise diverse pools of capital.
“From the outset, our ambition has been to build a scalable structure that mobilises both local and global investors, widening participation in areas that are often underserved. The entry of Axis Pension Trustees and Norfund is particularly significant.”
Afriyie Oware, CEO of Axis Pension Trustees, said the partnership aligns with its strategy to back productive sectors.
“We are confident in their ability to deliver decent financial returns as well as real economic impact… supporting local enterprises and driving sustainable economic growth.”
Naana Winful Fynn, Regional Director for West Africa at Norfund, added, “Access to flexible, long-term capital remains a key constraint for many growing businesses. GIP’s approach provides an effective model for addressing this gap for SMEs.”
GIP was established to bridge the gap between traditional bank lending and private equity, offering longer-term, local currency financing to reduce foreign exchange risks for businesses.
Its portfolio includes companies such as Maagrace Garments Industries, Truecoco, and eServices Africa, spanning manufacturing, agro-processing and business services.
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