By Stanley Senya
Accra, Jan. 23, GNA – Growth Investment Partners (GIP) Ghana, a platform created by British International Investment (BII), has announced its first investment in Ghanaian Business Processing Outsourcing (BPO) company E-Services Africa Limited (eSAL).
The investment will support eSAL’s growth and its global delivery of cost-effective and high-quality outsourcing solutions for businesses.
A statement issued in Accra said GIP Ghana was a first-of-its-kind platform launched by BII in 2023, with an anchor capital commitment of up to US$50 million, to provide long-term, flexible capital, primarily in local currency, to small and medium-sized enterprises (SMEs) across the country.
GIP aims to address a critical gap in accessing finance for SMEs who occupy a key role in the Ghanaian economy.
It said BII’s new report ‘How and why we finance SMEs’ draws on BII’s 65 years of experience supporting SME growth across Africa.
It highlighted the need for innovative solutions like GIP that can bring growth and jobs through flexible, risk-bearing finance that meets business needs.
The statement GIP Ghana’s first investment marked, a pivotal moment for eSAL’s trajectory, stimulating the company’s next phase of growth.
Established in 2001, eSAL has rapidly grown as a pioneer within the Ghanaian BPO sector, providing best-in-class outsourcing processes and technology that help to improve business operations across various sectors including financial services, telecommunications, energy, travel, and media.
It said the investment would provide capital for eSAL to purchase new infrastructure and relocate to a larger facility in Accra to maximise its delivery capacity and serve an increasingly global client base.
The BPO industry is transforming significantly, fueled by the increasing demand for cost-effective and scalable third-party administration and customer service solutions.
Leveraging Ghana’s competitive advantage that derives from its time zone, which is the same as many European countries, a young and vibrant English-speaking population, and a stable political environment, the country is a front-runner as the BPO industry signals a seismic shift from Asia to Africa.
It said through eSAL’S Work Readiness Programme, the company was also improving employment opportunities among young Ghanaians.
It plans to train over 8,000 professionals in Ghana over the next five years, creating inclusive access to economic opportunities, new skills, and jobs.
Mr Jacob Kholi, Chief Executive and Investment Officer, GIP Ghana, said: “We are pleased to be making our inaugural investment in eSAL.”
He said the investment marked a significant step forward in their mission to be at the forefront of alternative investment options for long-term capital in Ghana.
He said it signified their dedication to supporting SMEs, the lifeblood of Ghana’s economy.
The CEO said GIP Ghana was committed to helping bridge the financing gap for Ghana’s SMEs, expanding access to business support services, and providing patient, flexible finance.
Mr Kojo Afedzi Hayford, Founder and Chief Executive Officer, eSAL said: “As eSAL steps into a pivotal phase towards becoming a dominant force in Pan-African Business Process Outsourcing, our strategic partnership with GIP, bolstered by BII, is more than just a business expansion, it is a commitment to impact sourcing.”
“This investment not only highlights our dedication to excellence but also opens doors for showcasing the talents of young Ghanaians and Africans in the global marketplace,” he added.
He said by creating substantial employment opportunities, they were positioned to unveil the potential of Africa’s youth, making Ghana a beacon for global brands seeking innovative, socially responsible BPO solutions in Africa.
Madam Harriet Thompson, British High Commissioner for Ghana said “Just six months ago the UK Foreign Secretary launched the GIP during his visit to Ghana, putting BII at the forefront of innovative financing for SMEs which is critical for job creation and economic growth. I am delighted that GIP has closed its first transaction.”
She said they anticipated great things from the growth of eSAL for Ghana and look forward to many more companies following the path they are forging.
Mr Kwabena Asante-Poku, Coverage Director for Ghana, BII: “We are excited to embark on this transformative journey with eSAL through our GIP platform.”
He said this investment aligned with their long-term commitment to Ghana and their belief that supporting talented local entrepreneurs with patient growth capital is the key to unlocking impact at scale.
The investment contributes to the United Nations’ Sustainable Development Goal 8 on Decent Work & Economic Growth.
GNA