BII plans $25m Trade Access Program in Africa

A $25 million trade access programme has been launched by British International Investment (BII) and INOKS Capital with the goal of boosting trade on the African continent by supporting the expansion of small and medium-sized businesses.

British International Investment, a development finance institution and impact investor in the UK, has invested $25 million in the Trade Access Program (TAP). The money will go toward funding SMEs and trade intermediaries in Africa, including agritechs, fintechs, and alternative trade financiers.

The initiative intends to support the granting of credit to companies in the agri/food industry, including aggregators, e-commerce platforms, banks that specialise in SME lending, and non-bank financial organisations.

The investment firm claims that the funding will boost commerce and food supplies, aid in the development of local infrastructure, and revitalise market-enhancing corporations that cater to consumer and commercial needs. As a result, long-term economic growth will be promoted, resulting in a prosperous, sustainable, and inclusive future.