GHIB eyes Asian investment to finance African projects

Ghana International Bank (GHIB) is seeking to attract more investors from Asia to help finance major projects and businesses across Africa as countries explore new sources of funding.

The London-based bank, which is majority-owned by the Bank of Ghana, believes Asian investors could help bridge Africa’s financing gap, particularly in infrastructure and trade.

GHIB Chief Executive Officer Ian Greenstreet said Asia has substantial savings held by financial institutions that could be channelled into development projects across the continent.

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He identified China as a key market in the bank’s efforts to attract more international investment.

Greenstreet described China as an “extremely important” market, highlighting its potential role in financing Africa’s development.

The move comes as African countries seek alternative sources of funding to reduce their dependence on traditional international lenders.

GHIB believes attracting more investment from Asia could provide African businesses and governments with additional financing options.

The bank provides corporate banking, trade finance and other financial services, helping connect African businesses to international financial markets.

As of December 2024, the Bank of Ghana held a 65.45% stake in GHIB.

Beyond infrastructure financing, the bank also plans to expand financial support for agricultural commodities, including cotton, to help strengthen Africa’s agricultural sector.

The expansion would enable GHIB to support more businesses involved in the production, processing and export of agricultural products.

The bank’s plans come as Ghana changes how it raises funds to finance cocoa purchases.

The Ghana Cocoa Board (COCOBOD) recently raised approximately $288 million through the domestic debt market to finance cocoa purchases from farmers.

The arrangement marks a shift from its long-standing practice of relying on syndicated loans from international banks.

COCOBOD has faced financing challenges since difficulties with its traditional syndicated loan arrangements emerged during the 2023/24 cocoa season.

Greenstreet, however, stressed that international capital remains important and can complement Africa’s existing financing arrangements.

Meanwhile, GHIB has taken steps to expand its trade financing activities.

In June 2026, the bank signed a trade finance agreement with the African Development Bank to increase financial support for importers, exporters and financial institutions involved in cross-border trade.

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Through its efforts to attract Asian investors and expand agricultural financing, GHIB aims to improve access to funding for African businesses and support economic development across the continent.

DR/MA

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