Growth Investment Partners (GIP) Ghana Ltd, the investment platform backed by British International Investment (BII), has announced a major partnership with Rikair Company Limited to enhance the availability of medical-grade oxygen across Ghana. This partnership promises to address critical gaps in the country’s healthcare infrastructure by ensuring more widespread access to vital medical gas supplies.
GIP’s strategic investment will enable Rikair to expand its operations, particularly in the distribution of medical-grade liquid oxygen to healthcare facilities nationwide. The funding will support the installation of Pressure Swing Adsorption (PSA) oxygen plants and the provision of medical equipment, critical for improving patient care in hospitals, especially in underserved regions.
Rikair, which has been at the forefront of hospital turnkey projects and medical gas supply since its founding in 2001, has proven its value in the wake of the COVID-19 pandemic, which dramatically highlighted the shortcomings in medical oxygen availability worldwide. The surge in demand for oxygen during the pandemic—up to 7 times the pre-pandemic levels—pushed Rikair to the forefront of addressing these shortages.
“We are excited to partner with Growth Investment Partners to further our mission of supplying high-quality medical oxygen and equipment across Ghana,” said Nana Asante, CEO of Rikair. “This investment will allow us to reach more health facilities and ensure that essential medical gases are available where they are needed most, especially in regions that are often underserved.”
The Ministry of Health’s National Medical Oxygen Policy (2023) has underscored the urgent need to scale up the production and distribution of medical oxygen across the country. As a key player in this initiative, Rikair’s expanded capacity will help meet these national healthcare goals and contribute significantly to saving lives.
Jacob Kholi, Chief Executive and Investment Officer at GIP, emphasized the importance of supporting local enterprises in addressing critical healthcare challenges. “This investment in Rikair reflects our commitment to strengthening Ghana’s healthcare system by enabling the delivery of essential medical gases to health facilities across the country,” he said. “Our goal is to create a more resilient healthcare infrastructure while supporting the growth of local SMEs, which play a key role in sustainable economic development.”
GIP’s investment in Rikair is the fourth successful deployment of capital by the platform since its launch in 2023. Previous investments have included E-Services Africa Limited, Truecoco Ghana LTD, and Fido Microcredit. GIP’s focus remains on addressing financing gaps for small and medium-sized enterprises (SMEs), particularly those that deliver impactful services to communities.
Kwabena Asante-Poku, Coverage Director for Ghana at British International Investment, noted that Rikair’s work aligns perfectly with BII’s goal of fostering sustainable, impactful growth in Ghana’s SME sector. “Rikair’s pivotal role in Ghana’s healthcare infrastructure makes it an ideal partner for us, and we are proud to support their efforts to ensure essential services are available to all Ghanaians,” he said.
This partnership between GIP and Rikair marks a significant step toward improving healthcare access in Ghana, cementing Rikair’s position as the leading indigenous provider of medical gas and hospital solutions in the region.
Source: Ghana/Starrfm.com.gh/103.5FM/Edem Kojo
