British International Investment (BII), the development finance arm of the UK government, has partnered with Ghana International Bank (GHIB) in a $50 million trade finance deal to support businesses across seven African countries. The initiative will provide much-needed capital to small and medium-sized firms in Sierra Leone, Liberia, The Gambia, Benin, DR Congo, Rwanda, and Tanzania, helping them access vital commodities and equipment for business growth. With Africa facing a staggering $120 billion trade finance deficit, limited access to credit has hampered economic growth. This deal aims to counteract the perceived financial risk premium associated with investments in African markets. If successful, the initiative will create jobs, stimulate trade, and offer a blueprint for future investment in the continent’s financial ecosystem.
Source: Semafor