Rikair partners with GIP to make medical grade oxygen accessible to Ghanaians
Growth Investment Partners (GIP) Ghana Ltd, an investment platform established by British International Investment (BII), has announced its latest investment in Rikair Company Limited (Rikair) – a leading indigenous provider of hospital turnkey projects and medical gas and equipment.
The investment will enhance the availability of medical oxygen in Ghana, making it more accessible to communities nationwide.
GIP’s primary goal is to address the funding gap by offering long-term, flexible financing—primarily in local currency—to small and medium-sized enterprises (SMEs).
This partnership will provide Rikair with the capital needed to expand its distribution of medical-grade liquid oxygen to healthcare facilities across the country, supporting Ghana’s healthcare facilities and addressing critical gaps in medical infrastructure.
Established in 2001, Rikair has grown into a key supplier of medical gas, equipment, and turnkey hospital solutions across Ghana and West Africa.
The COVID -19 Pandemic highlighted the inadequacies in the production, supply distribution and use of medical oxygen globally, regionally and in Ghana. Prior to the pandemic, oxygen stockout in health facilities did not receive the required attention. However, since the pandemic, Rikair has played a vital role in addressing the heightened demand for oxygen supplies, which surged by 3-7 times the pre-pandemic levels.
Rikair is renowned for designing and installing Pressure Swing Adsorption (PSA)-oxygen plants in key healthcare facilities such as the Komfo Anokye Teaching Hospital, the Bank Hospital, Greater Accra Regional Hospital (Ridge), Trust Mother and Child Facility and International Maritime Hospital, Tema.
The Ministry of Health’s National Medical Oxygen Policy (2023) has further emphasized the need for scaling up the production, availability, and use of medical oxygen. Rikair, as a key player, is well-positioned to deliver on these goals by ensuring the availability of high-quality oxygen and equipment in health facilities nationwide by procuring and distributing quality medical oxygen and accessories and providing onsite PSA plants.
This is GIP’s fourth successful investment since its launch in 2023 building on previous investments in E-Services Africa Limited (eSAL), Truecoco Ghana LTD, and Fido Microcredit, as the platform looks to stimulate growth and development across Ghana’s SME sector.
Jacob Kholi, Chief Executive and Investment Officer, GIP Ghana: “This investment in Rikair demonstrates our commitment to addressing critical healthcare challenges in Ghana by supporting local enterprises. By enabling the delivery of medical-grade liquid oxygen to health facilities nationwide, we are helping to build a more resilient healthcare system while fostering sustainable economic growth through SME development.”
Nana Asante, Chief Executive Officer, Rikair Company Limited: “We are proud to partner with Growth Investment Partners to expand our capacity in supplying high-quality medical oxygen and equipment across Ghana. This investment will allow us to further our mission of ensuring every health facility has access to essential medical gases, which are crucial for saving lives, especially in underserved regions.”
Kwabena Asante-Poku, Coverage Director for Ghana, British International Investment: “Through Growth Investment Partners, British International Investment aims to drive positive, impactful and sustainable growth in Ghana’s SME sector. Rikair’s essential role in Ghana’s healthcare infrastructure makes it a perfect fit for our vision of supporting businesses that deliver tangible benefits to communities while creating economic value.”
About GIP Ghana
Growth Investment Partners (GIP) Ghana is an investment platform established in 2023 by British International Investment plc (BII). With an anchor capital commitment of up to US$50 million from BII, GIP Ghana provides long-term, flexible financing to catalyze sustainable economic growth and development impact in Ghana by addressing the SME funding gap.
About Rikair
Rikair Company Limited is a leading indigenous supplier of medical gas, equipment and accessories in the West African sub-regions. Rikair is also a provider of hospital turnkey projects, supply and installation of ultra -modern medical equipment, servicing and maintenance.
About British International Investment
British International Investment is the UK’s development finance institution and impact investor.
As a trusted investment partner to businesses in Africa, Asia and the Caribbean, BII invests to create productive, sustainable and inclusive economies in our markets.
Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance.
BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women’s economic development.
The company has investments in over 1,580 businesses across 65 countries and total net assets of £8.5 billion.