GIP Fuels Expansion of Kumasi’s Springs and Bolts, Boosting Ghana’s Role in Regional Automotive Supply Chain
Growth Investment Partners (GIP) Ghana Ltd, an investment platform established by British International Investment (BII), has announced a major investment in Springs and Bolts Company Limited (SBCL), a Kumasi-based manufacturer of automotive aftermarket components.
The funding will enable SBCL to acquire a fully automated leaf spring production line, tripling its production capacity from 4 to 12 metric tonnes per day. This expansion will enhance efficiency, reduce Ghana’s reliance on imported components, and strengthen the country’s position as a competitive supplier within the US$600 million West African automotive market, currently dominated by imports from Asia and South Africa.
Jacob Kholi, Chief Executive and Investment Officer of GIP Ghana, described the investment as a game-changer:
“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.”
Founded in 2013 as a Free Zone Company, SBCL already exports more than 70% of its production to ECOWAS countries including Nigeria, Ivory Coast, Mali, and Burkina Faso, while maintaining a strong domestic footprint.
Derrick Asamoah Boahen, Chief Executive Officer of SBCL, welcomed the partnership as timely:
“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 offering affordable and quality alternatives to imports.”
The company has leveraged partnerships with South Africa’s Supreme Springs for technical expertise, GIZ for market access, and the UK FCDO’s Jobs and Economic Transformation (JET) Programme for research and new production lines. Currently employing 28 workers, SBCL is poised for significant job creation as production scales up.
With duty-free access under the ECOWAS Trade Liberalisation Scheme, SBCL is strategically placed to improve regional competitiveness while exploring opportunities in raw material supply and downstream services.
Kwabena Asante-Poku, Country Director for British International Investment Ghana, highlighted the wider impact:
“Through Growth Investment Partners, we are backing SMEs like SBCL that can transform Ghana’s industrial base. This investment reduces reliance on imports and strengthens critical supply chains across mining, agriculture, and logistics.”
The GIP–SBCL partnership aligns with Ghana’s industrial policy by driving manufacturing expansion, boosting exports, creating jobs, and deepening regional integration.
