Growth Investment Partners (GIP) Ghana, an investment platform established by British International Investment (BII), has announced a strategic investment in Springs and Bolts Company Limited (SBCL), a leading Kumasi-based manufacturer of automotive aftermarket components. This investment underscores GIP Ghana’s commitment to supporting industrial growth and local manufacturing in West Africa.
SBCL specializes in the production of automotive aftermarket components, including leaf springs, bolts, and related parts. Its products serve critical sectors such as transportation, logistics, mining, and agriculture, supporting regional economic development.
The funding will enable SBCL to acquire a fully automated leaf spring production line, a move that will triple its production capacity from 4 tonnes to 12 tonnes per day. This significant expansion is expected to position Ghana as a competitive supplier of high-quality automotive components within the West African region, reducing reliance on imports and strengthening local value chains.
Jacob Kholi, Chief Executive and Investment Officer at GIP Ghana, commented:
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 industrialization agenda.
Derrick Asamoah Boahen, CEO of SBCL, added:
Our goal is to position SBCL as the preferred source of high-quality automotive components in West Africa. We are proud to partner with GIP in this next phase of our growth. 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.
