On Monday, September 9, 2024, the investment platform Growth Investment Partners (GIP), owned by the British impact investor British International Investment (BII), announced its second investment in Ghana. In collaboration with the commercial bank Stanbic Bank Ghana, it granted a $10 million loan to Fido Micro Credit Ltd

Fido Micro Credit Ltd is a Ghanaian fintech committed to providing digital loans to microbusinesses. The funding provided will help it expand its reach to low-income individuals with limited access to basic financial services. The fintech, which had 1 million customers in August 2024, 40% of whom were small businesses, will extend its lending services to SMEs in Ghana and Uganda. According to Kwabena Asante Poku (photo), director of BII in Ghana, “this second investment by GIP in Ghana will support the growth of Fido, a fintech dedicated to

Ghanaian SMEs account for over 90% of businesses, 60% of GDP, and 80% of all jobs. However, their financing gap is estimated at $4.8 billion, according to data presented by the British investor