BII Targets £9 Billion Investment for African Growth

British International Investment (BII) has launched a new five-year strategy aimed at driving £9 billion in new capital to support economic growth across Africa. This initiative is a central pillar of BII's strategy, which focuses on accelerating the flow of private capital into African countries.

The £9 billion investment is expected to contribute nearly £5 billion in balance from private institutions. BII has announced its commitment to enhancing investments in frontier markets, particularly in the least developed countries, with at least 25 percent of new investments directed towards these nations.

Jenni Chapman, the Minister for Development, emphasized the need for a new UK approach to development, moving beyond traditional aid grants to foster long-term partnerships that bring investment expertise and international financial reform. Chris Chijiutomi, the head of Africa at BII, highlighted the organization's long track record and deep experience in investing in economic cycles, which informs their strategy to focus on high-impact sectors and mobilize both domestic and international private capital.