The Norwegian development fund, Norfund, announced the Tuesday, October 14, 2025, an investment of 15 million dollars in B5 Plus Group, one of the main steel producers in Ghana. It aims to modernize a steel mill located in Tema, an industrial zone located 30 km south of Accra, the capital of Ghana, and to build a 16 MW solar power plant in Prampram, coastal city in the Greater Accra region.

Norfund's investment takes the form of a 15% loan. millions of American dollars. This capital will be used to renovate a steel mill. recently acquired in the Tema free zone in Ghana and to build a 16 MW solar power plant on the B5 Plus site in Prampram. It will strengthen also the company's activities thanks to its modernization and a better efficiency.

“This investment is in line with our mission to creating jobs and improving living conditions. It contributes also to reduce the carbon footprint of the supply chain and production process, in particular through increased use of scrap metal and the integration of renewable energies. It also strengthens the competitiveness of the company and contributes to industrial growth green in Ghana,” said Naana Winful Fynn, Norfund Regional Director for West Africa.

The project is expected to create 1,800 direct jobs and 10,000 additional indirect jobs. The demand for building materials as steel increases in line with economic growth in Ghana and the region.

“We are honored by partnership with Norfund, which shows our confidence in growth supported by the B5 Plus Group and in the industrial future of Africa. Our plus our great asset has always been our people: their talent, their dedication and their resilience is the driving force behind our success. We are also determined to contribute to the success of Africa through education, skills development and CSR initiatives focused on communities. This collaboration goes beyond finance; it aims to build resilient industries, to empower communities and to shape a future of inclusive and sustainable progress for Africa and beyond ”, said Mukesh