The United Kingdom has announced a new five-year investment strategy aimed at directing £9 billion in fresh capital into African frontier markets, with Nigeria being a key focus. The initiative is spearheaded by British International Investment (BII).

This strategy signifies a move towards mobilizing private capital to foster economic growth in markets that have historically received limited funding. BII is set to be a major contributor, pledging nearly £5 billion of the total target.

The remaining £4 billion is anticipated to be sourced from a combination of private investors, both within Africa and internationally. This approach seeks to leverage private sector expertise and finance for sustainable development.

UK Minister for Development, Jenny Chapman, emphasized that this strategy represents a departure from traditional aid models. She stated that the focus is now on establishing long-term partnerships that integrate investment, expertise, and international finance reform.

Chapman further explained that the initiative will employ a blend of investment tools, research, and diplomatic efforts to facilitate business expansion and job creation across the continent.

Chris Chijiutomi, Managing Director and Head of Africa at BII, highlighted the institution's intention to intensify its focus on frontier markets. He noted that at least 25% of new investments will be allocated to least developed countries within these regions.

Chijiutomi also pointed to BII's extensive experience in Africa as a crucial asset for navigating the complexities of these markets and effectively supporting business growth.