UK-Backed Financier Draws Ghana Pension Cash to Fund Small Firms

One of Ghana’s largest private pension funds has backed a British-led initiative to finance small businesses, signaling a gradual shift away from government bonds and toward private enterprise in the African nation’s retirement-savings industry.

Axis Pension Trust pledged $5 million to Growth Investment Partners, an investment platform started in 2023 by British International Investment to provide local-currency loans to small and medium enterprises. Norwegian development institution Norfund agreed to another $15 million, bringing new commitments to $20 million.