BII Unfolds £725m New Sustainable Development Commitment in Africa

In a year marked by global economic challenges and increasing climate crises, British International Investment (BII) has emerged as a beacon of hope and progress for sustainable development in Africa. The UK’s development finance institution and impact investor announced a remarkable £725 million in new investments dedicated to sustainable development across the continent, representing a significant 61 percent of its total global commitments for 2023.

BII’s mission to alleviate poverty through impactful investments continues to resonate across the most underserved regions, where private capital is scarce. The newly published Annual Review, titled Creating Impact Together, reveals BII’s extensive reach and influence. The £725 million invested in Africa reflects an increase from £692 million in 2022, underscoring the organization’s growing focus on the continent.

Chair of BII, Diana Layfield, highlighted the organization’s critical role in addressing global challenges: “In a world facing an ever-growing climate challenge, and where inequality and access to basic water, power, and economic development remain profound human challenges, our role is as important as it has ever been.”

Managing Director and Head of Africa for BII, Chris Chijiutomi, echoed this sentiment, emphasizing BII’s impact on the continent: “We continue to make a real difference to the lives of millions of people living in Africa on behalf of the British taxpayer. Our 2023 investment performance underlines our dedication to supporting our partners across the continent as they play a key role in creating vital jobs and services and building economies that are more adaptable and resilient to the impacts of the climate emergency.”