Growth Investment Partners (GIP) Ghana is accelerating the country’s emergence as an attractive hub for the business processing outsourcing (BPO) industry’s migration from Asia to Africa.
Its inaugural investment, a platform established by British International Investment (BII) – the UK’s development finance institution and impact investor, is directed toward E-Services Africa Limited (eSAL) – a Ghanaian BPO company.
This strategic move is anticipated to fortify eSAL’s growth and enhance its global delivery of cost-effective, high-quality outsourcing solutions across various sectors.
Jacob Kholi, Chief Executive and Investment Officer at GIP Ghana, emphasised the significance of the investment during an interview with the B&FT, stating: “The investment provides fresh capital for eSAL to purchase new infrastructure, including modern technology. Enabling eSAL to invest in a larger facility in Accra, the capital helps expand its delivery capacity to accommodate the needs of an increasingly global client base within and beyond the financial services, telecommunications, energy, travel and media sectors”.
Mr. Kholi further revealed that eSAL plans to train over 8,000 professionals in Ghana over the next five years.
With a well-skilled and youthful population, the country is positioned as an attractive destination to absorb the BPO industry’s move from Asia to Africa, in line with the company’s expansion plan.
Ghana’s advantageous time zone, aligned with many major markets throughout Europe, is expected to facilitate real-time responses, meeting the rising demand for cost-effective and scalable third-party administration and customer service solutions.
The investment is expected to enable eSAL establish robust international connections, contributing to Ghana’s prominence in the BPO industry and providing essential resources for scaling operations, enhancing efficiency and delivering high-quality services.
eSAL’s Work Readiness programme, a strategic initiative focusing on training and preparing young learners for the BPO industry, is also gaining momentum. The programme not only addresses the growing demand for skilled professionals but also benefits individuals facing financial need, women and those seeking their first job.
Kojo Afedzi Hayford, Founder and Chief Executive Officer of eSAL: “As eSAL steps into a pivotal phase toward 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’s a commitment to impact sourcing”.
Harriet Thompson, British High Commissioner to Ghana, lauded the development, stating: “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. We anticipate great things from the growth of eSAL for Ghana, and look forward to many more companies following the path they are forging.”
Kwabena Asante-Poku, Coverage Director for Ghana at BII, expressed excitement about the transformative journey with eSAL through the GIP platform, emphasising that the investment aligns with his outfit’s long-term commitment to Ghana and their belief in supporting talented local entrepreneurs with patient growth capital.
This investment not only aligns with Ghana’s aspirations for economic growth, but also contributes to the United Nations’ Sustainable Development Goal 8 (SDG 8) – Decent Work & Economic Growth, he said.
