GhISP gets boost to extend support to Ghanaian SMEs
The Ghana Investment Support Programme (GHISP) has officially welcomed Norfund as the latest co-funder to join its efforts to strengthen private sector development in Ghana. The announcement comes just a few months after Switzerland’s State Secretariat for Economic Affairs SECO officially joined the programme and is testament to the growing confidence in GhISP’s model to help position SMEs for investment.
Norfund’s Regional Director for West Africa, Naana Winful Fynn, sees strong synergies between GhISP and Norfund’s role as an investor in Ghana. “By helping SMEs institutionalise and become more investment ready, GhISP contributes to making businesses more able to attract capital from institutional investors and also contributes to building a stronger pipeline of businesses for institutional investors, thus catalysing private sector growth.”
The synergies don’t end there. Last month, Norfund invested in Growth Investment Partners (GIP) — an investment platform established by British International Investment (BII). GhISP works closely with GIP to provide tailored pre- and post-investment support to SMEs and helps connect companies to capital by supporting investments for GIP, other BII investees and fund managers in Ghana.
To date, GhISP has delivered pre- and post-investment technical assistance to 15 SMEs. This support has helped facilitate six deals at a total worth of $9 million. With Norfund on board, GhISP can now extend its commitment to unlocking capital for even more of Ghana’s SMEs.
-ENDS-
About GhISP
The Ghana Investment Support Programme (GhISP) is a technical assistance initiative, powered by British International Investment (BII) and supported by SECO and Norfund. It aims to increase investment flows to underserved SMEs in Ghana, with a particular focus on gender, inclusion and climate investing. GhISP is designed to drive enhanced development impact while being aligned with investment strategies in Ghana. Learn more at https://ghisp.org
About Norfund
Norfund is the Norwegian Investment Fund for developing countries with a mission to create jobs and improve lives by investing in businesses that drive sustainable development. Owned and funded by the Norwegian Government, Norfund is the Government’s most important tool for strengthening the private sector in developing countries and reducing poverty. Read more at https://www.norfund.no.
NOTE TO EDITORS:
Photo caption: L-R: Naana Winful Fynn, Regional Director for West Africa, Norfund; Jacob Kholi, Chief Executive and Investment Officer, GIP; Kwabena Asante-Poku, Coverage Director for Ghana, BII at GIP’s Capital in Motion event, where GIP welcomed Norfund and Axis Pension Trust Ltd as new shareholders with a combined $20 million commitment.
For case studies on Ghanaian SMEs that have successfully secured investment, and for more information on our work with key ecosystem partners, please visit our website. For more information, please contact Tine Frank, GhISP Communications Lead, on tine_frank@dai.com.