UK Platform to Finance Ghana Small Businesses in Local Currency
- Ghana businesses contending with record-high borrowing costs
- BII is backing initiative with as much as $50 million for SMEs
Accra, Ghana.
Photographer: Ernest Ankomah/BloombergThis article is for subscribers only.
A UK initiative will provide Ghana’s small businesses with loans in the local currency, helping to tackle the $4.8 billion funding gap that is one of Africa’s largest for the sector.
British International Investment Plc., the UK’s development finance institution, is backing a new lending platform with as much as $50 million for small- and medium-sized enterprises, the organization said in a statement Monday.