A new investment vehicle, Growth Investment Partners Zambia (GIP Zambia), has been officially launched to channel long-term, local currency finance into Zambian small and medium-sized enterprises (SMEs). The initiative, backed by British International Investment (BII), the National Pension Scheme Authority (NAPSA), and Swedfund International, opens a critical window for African businesses struggling with limited access to growth capital.
At its launch, presided over by President Hakainde Hichilema, GIP Zambia announced an initial anchor investment of US $70 million—with $37.5 million from British International Investment, $17.5 million from NAPSA, and US $15 million from Swedfund. Over the next 15 years, the platform aims to mobilize more than US $300 million, supporting around 150 SMEs across sectors such as manufacturing, agriculture, and financial services.
SMEs contribute approximately 70 % of Zambia’s GDP and employ 88 % of its workforce, yet over 40 % of these businesses report difficulty accessing the tailored funding necessary for expansion. Traditional banks typically offer short-term loans requiring heavy collateral, creating a financing gap that GIP Zambia seeks to address. The new platform offers patience, flexibility, and risk-sharing features, including local currency tenors, reduced collateral demands, and customized business support.
Leslie Maasdorp, CEO of BII, emphasized that GIP Zambia builds on lessons from Growth Investment Partners Ghana, positioning Zambia to become a leader in local capital mobilisation and SME growth . NAPSA Chairperson Shipango Muteto highlighted the pension fund’s strategic goal of directing resources into sustainable local businesses, while Swedfund CIO Marie Aglert stressed the importance of long-dated local currency financing.
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Musonda Chipalo, CEO of GIP Zambia, said the initiative offers the precise tools Zambian entrepreneurs need. “Charlotte entrepreneurs are full of drive and creativity,” he said, “but too many face the same obstacle: a lack of appropriate, long-term finance to grow their businesses sustainably” .
President Hichilema described GIP Zambia as a strategic alternative to traditional budgetary allocations, noting that “the right kind of capital remains elusive” in scaling Zambia’s economy.
The introduction of GIP Zambia aligns with Zambia’s Vision 2030 and its 8th National Development Plan, strengthening private-sector contributions to economic diversification, industrialisation, and job creation.
GIP Zambia represents a growing trend of pan-African, development-backed investment platforms aimed at unlocking SME potential through patient, flexible finance, a proven recipe in markets such as Ghana.
