Ghana International Bank (GHIB) and British International Investment (BII) have announced a $50 million trade finance facility to support businesses in Sierra Leone, Liberia, The Gambia, Benin, the Democratic Republic of Congo, Rwanda, and Tanzania.
The agreement, signed under a Master Risk Participation Agreement (MPRA), will enable GHIB to expand trade finance support in these frontier markets, addressing the region’s long-standing credit challenges. The facility aims to boost local businesses by providing access to essential commodities and equipment, fostering economic growth and stabilizing market supply.
UK Minister for Africa, Lord Collins of Highbury, praised the initiative, emphasizing its role in strengthening economic ties between the UK and Africa. He noted that Africa’s trade financing gap remains a significant challenge, and the partnership will help local businesses expand trade, including with the UK.
Kwabena Asante-Poku, BII’s Country Director for Ghana, highlighted the importance of trade in driving economic growth, particularly in emerging markets. He stressed that improved access to trade credit would help businesses in challenging economic environments sustain operations and drive inclusive development.
GHIB CEO Dean Adansi described the partnership as a strategic collaboration that combines GHIB’s deep understanding of African market risks with BII’s financial strength. He noted that each dollar of trade generates approximately $1.3 in GDP for the target economies, reinforcing the impact of expanding trade finance solutions.
The partnership leverages GHIB’s extensive trade finance expertise and BII’s ability to provide essential dollar liquidity, helping to bridge Africa’s trade finance gap under difficult economic conditions. The signing ceremony took place in London, marking the first collaboration between the two UK-based institutions.
