BII to Raise £9bn for Investment in African Frontier Markets

British International Investment (BII) has announced a new five-year strategy aimed at raising £9 billion to support economic growth in Africa, focusing on frontier markets. This initiative will contribute nearly £5 billion, with at least 25% of new investments directed towards the least developed countries.

BII's strategy is designed to accelerate the flow of private capital into African nations, which have historically faced structural barriers to investment. Jenni Chapman, the Minister for Development, emphasized the need for a new UK approach to development that moves beyond traditional aid and grants, advocating for long-term partnerships that leverage investment expertise and international financial reform.

Chijiutomi, representing BII, highlighted the organization's extensive experience in investing throughout economic cycles and its commitment to addressing the investment needs of the continent. The initiative reflects BII's ongoing dedication to fostering economic growth and job creation in Africa.