The UK’s development finance institution and impact investor, British International Investment (BII), has launched its new five-year strategy, aimed at driving £9 billion of new capital into Nigeria and other African countries to support economic growth.

A central pillar of the strategy is a focus on accelerating the flow of private capital into African countries. Of the £9 billion, BII will contribute nearly £5 billion, with the balance expected to come from private institutions in Africa and globally. Drawing on nearly eight decades of investing experience in Africa, BII will use its capital, partnerships and risk-bearing capacity to attract private investors into markets and sectors where capital remains scarce.

BII also announced that it will enhance its commitment to frontier markets, Least Developed Countries (LDCs), with at least 25 per cent of new investments by value going to these countries. Frontier markets are home to more than a billion people and have the greatest investment need, yet remain underserved by private capital due to structural barriers to investment.

Furthermore, BII says it will focus on a select number of frontier markets in Africa, combining investment, policy engagement, technical assistance and partnerships to strengthen investment environments and capital markets.

Across Africa, BII will concentrate its capital on high-impact sectors where it can deliver the greatest benefit for people, businesses and the planet. These include financial services, power, transport, trade, digital infrastructure and sustainable industries.

Minister for Development, Jenny Chapman, said that bringing expertise and international finance reform together, including research, practical advice and diplomacy, can help businesses grow, create jobs and support reforms and policies.

MD and Head of Africa, BII, Chris Chijiutomi, said Africa has been at the heart of BII’s work since inception. “That long track record has given us deep experience of investing through economic cycles and a clear understanding of what businesses need to grow in some of the continent’s most challenging markets.

This strategy builds directly on that experience. By sharpening our focus on frontier markets, investing in high-impact sectors and mobilising domestic and international private capital, we are concentrating our efforts where our capital and expertise can make the greatest difference for African economies.”