Ghana: IFC proposes investment in steel manufacturer

The IFC has disclosed a proposed investment of up to $50 million in B5 Plus

---

The International Finance Corporation (IFC) has disclosed a proposed investment of up to $50 million in B5 Plus, one of the largest manufacturers and suppliers of steel-related products in Accra, Ghana.

The investment will fund: (i) refurbishing and repurposing a newly acquired steel plant at Tema Freezone to produce rebars and wire rod coils; (ii) installing a wire rod mill at Tema Freezone; (iii) developing a 10 MW solar plant at the Prampram facility; and (iv) working capital.

B5 Plus was founded by Mukesh and Tanuja Thakwani, who own 49% and 51% of the company respectively.

Stay ahead in Africa's private equity and venture capital sector with Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe here