The British High Commissioner to Ghana, Harriet Thompson, visited Springs and Bolts Co. Ltd. in Kumasi to celebrate a pivotal moment in UK-backed investment in Ghana’s manufacturing sector, as part of her farewell engagements in the Ashanti Region.
The visit highlighted the UK’s significant contribution to Ghana’s economic transformation and its ambition to become a competitive manufacturing hub in West Africa.
UK support drove new manufacturing investments, spurred the creation of highly skilled jobs, and launched local production of components for the automotive, oil and gas, and mining industries.
The UK provided technical assistance and catalytic grant funding through its flagship Jobs and Economic Transformation (JET) programme, implemented by the Palladium Group, to enhance Springs and Bolts’ capacity and investor readiness.
As a result, the company secured a significant follow-on investment earlier this year through the Ghana Investment Support Programme (GhISP), a subsidiary of British International Investments.
This investment will enable the establishment of a new, state-of-the-art factory for large-scale manufacturing of automotive leaf springs, positioning the company as a national and regional production hub with exports to five new West African markets.
In addition, Springs and Bolts will launch Ghana’s first fasteners manufacturing plant, producing custom-made, high-quality bolts and nuts for the industrial, construction, and automotive sectors.
This project will deepen local value chains, enhance self-reliance, and create at least 200 high-quality manufacturing jobs.
The growth of the component sub-sector is a key part of the impressive growth of Ghana’s automotive sector, which has seen a major expansion of locally assembled cars in the last four years.
Speaking about her visit to Springs and Bolts, Harriet Thompson said: “This factory is a great example of how British investment is helping to grow strong local businesses, create good jobs, foster innovation, and strengthen the partnership between the UK and Ghana”.
The UK JET programme’s technical assistance played a key role in boosting Springs and Bolts’ capital-raising efforts, leading to an investment that will expand the company’s factory and production capacity.
This capital raise reflects strong investor confidence and positions the company for growth, product diversification, and regional expansion.
During her visit, the High Commissioner toured the factory floor, met with CEO Derrick Asamoah Boahen, and observed preparations for machinery installation and factory expansion.
Springs and Bolts aims to begin full-scale production by the end of 2025.
The company’s leadership expressed appreciation for UK support, noting that the JET grant enhanced their credibility with financial partners and that their new investment is instrumental in realising their growth ambitions.
“This investment and the progress achieved would not have been possible without the technical assistance and grant funding provided by the UK-funded Ghana JET programme,” Derrick Asamoah Boahen, CEO, Springs and Bolts.
This investment exemplifies how strategic UK support can unlock locally driven industrial development and job creation in Ghana.
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