GHIB and BII unveil $50 million trade finance facility to empower African markets

Ghana International Bank plc (GHIB) and British International Investment (BII) have launched a $50 million trade finance facility covering Sierra Leone, Liberia, The Gambia, Benin, the Democratic Republic of Congo, Rwanda, and Tanzania.

Under a Master Risk Participation Agreement, the facility aims to support local businesses by addressing the credit constraints in frontier markets due to high-risk perceptions and low volumes. The initiative is expected to boost the import of essential commodities and stimulate economic growth in the target countries.

UK Minister for Africa, Lord Collins of Highbury, praised the collaboration for strengthening ties with Africa, while GHIB CEO Dean Adansi emphasized that each dollar of trade could unlock approximately $1.3 in GDP, highlighting the deal’s potential to drive meaningful economic impact.