Norfund Invests $15m in Ghana’s B5 Plus

Key Figures & Findings: Norfund has announced a $15 million investment in Ghana’s B5 Plus Group, one of West Africa’s leading steel manufacturers. The funding will upgrade the company’s Tema steel plant and support the construction of a solar power facility in Prampram, integrating clean energy into steelmaking operations. 

Statistics & Insights:

•  Investment: Norfund is providing USD $15 million in financing.

• Capacity & Jobs: The project includes a 16 MW solar power plant and aims to create 1,800 direct and 10,000 indirect employment opportunities.

Future Implications: If successfully implemented, the project could make B5 Plus one of the first low-carbon steel producers in West Africa by 2027, setting a benchmark for industrial decarbonization in emerging markets. It also reinforces Ghana’s position as a regional manufacturing hub powered by sustainable energy.

Source: Norfund (LinkedIn)

Quick Take: Steel just went green: Norway’s Norfund is investing millions to link West Africa's infrastructure boom directly to renewable energy and massive job creation.