GIP backs Kumasi firm to triple automotive parts output
By Praisebell Rosemond Larbi
Growth Investment Partners (GIP) Ghana Ltd, the investment platform established by British International Investment (BII), has announced a major strategic investment in Springs and Bolts Company Limited (SBCL), a Kumasi-based manufacturer of automotive aftermarket components.
GIP’s funding will enable SBCL to triple its production capacity, a move expected to reinforce Ghana’s position as a competitive automotive supplier in West Africa.
The investment will finance the acquisition of a fully automated leaf-spring production line, increasing output from 4 to 12 metric tonnes per day and improving efficiency across operations.
The expansion aims to boost local manufacturing, reduce reliance on imports and position Ghana as a regional hub for automotive components.
Regional demand for springs, bolts and related products is estimated at USD600 million annually, with most supplies currently imported from Asia and South Africa. GIP’s investment is therefore viewed as a critical step toward strengthening Ghana’s industrial supply chains.
“There is a clear market gap for locally manufactured components that meet international standards. By backing SBCL’s expansion, we are not only scaling a competitive business but also contributing to Ghana’s broader industrialisation agenda,” said Jacob Kholi, Chief Executive and Investment Officer of GIP Ghana.
Founded in 2013 as a Free Zone Company, SBCL exports over 70 percent of its output to ECOWAS countries including Nigeria, Ivory Coast, Mali and Burkina Faso, while also serving the domestic market.
SBCL CEO Derrick Asamoah Boahen welcomed the partnership, saying: “Our goal is to position SBCL as the preferred source of high-quality automotive components in West Africa.
With increased capacity and automation, we can better serve the automotive, logistics, mining and agriculture sectors while providing more affordable and quality alternatives to imported products.”
“Reducing dependence on imports is not just about production capacity; it’s about building an ecosystem that supports critical supply chains across mining, agriculture and logistics,” Mr Boahen added.
Kwabena Asante-Poku, BII Country Director for Ghana, stressed: “Through Growth Investment Partners Ghana, British International Investment is backing SMEs that can transform Ghana’s industrial base. Supporting SBCL’s expansion will not only reduce reliance on imports but also strengthen critical supply chains across mining, agriculture and logistics.”
SBCL’s growth has been supported by Supreme Springs of South Africa for technical expertise, GIZ for market access to logistics and mining companies, and the UK Foreign, Commonwealth and Development Office’s Jobs and Economic Transformation (JET) Programme for market research and developing new fastener production.
Currently employing 28 people, SBCL plans to expand its workforce significantly. Duty-free access under the ECOWAS Trade Liberalisation Scheme further enhances its competitiveness as it explores vertical integration, including securing raw material supply chains and expanding downstream services.
