Ghana has secured £101 million (US$137 million) in financing for the Takoradi Floating Dock project after reaching financial close under a broader UK-Ghana Growth Partnership aimed at boosting infrastructure and industrial development.
The funding was confirmed during the Ghana-UK Investment Summit held in London, where officials said the remaining financing gap for the project was closed following the entry of the UK-backed Private Infrastructure Development Group (PIDG) into the investor consortium.
The project, known as Project Shiprite, will establish a ship-repair and dry-docking facility at the Port of Takoradi under a 25-year concession agreement with the Ghana Ports and Harbours Authority (GPHA).
It is expected to strengthen Ghana’s position as a maritime services hub in West Africa by providing maintenance and repair services for container ships, tankers, bulk carriers, offshore support vessels and oil drilling rigs operating in the region.
The facility will include a floating dock with a lifting capacity of 13,500 tonnes, a 200-metre jetty, workshops, warehouses, offices and marine engineering infrastructure.
Officials say the investment reflects growing investor interest in Ghana’s infrastructure sector as the country continues to recover from its recent debt restructuring and fiscal consolidation programme, which temporarily restricted access to international capital markets.
Development finance institutions have increasingly played a key role in supporting African infrastructure projects by providing risk-sharing capital to help unlock private investment in commercially viable but capital-intensive developments.
PIDG said its participation in the consortium was designed to mobilise private capital and ensure the project reached financial close after years of preparation.
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The UK-Ghana Growth Partnership under which the project is being financed is part of a wider cooperation framework running from 2026 to 2028, with total commitments estimated at £215 million.
The broader programme includes investments beyond maritime infrastructure, spanning forestry, artificial intelligence, education and skills development.
Under the agreement, an £85 million reforestation fund and an additional £9 million forest restoration initiative will support environmental projects in Ghana’s Oti Region.
The partnership also includes £6 million for implementation of Ghana’s national artificial intelligence strategy, alongside academic collaboration between Ghanaian and British universities in science and technology fields.
In the health sector, £4 million has been allocated to clinical engineering training programmes aimed at strengthening technical capacity in medical infrastructure management.
Officials said the initiative is designed to deepen economic cooperation between Ghana and the United Kingdom while supporting long-term private sector-led growth.
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Bilateral trade between the two countries currently stands at about £1.6 billion, representing a 12.5 percent increase since 2024, according to figures released at the summit.
The UK-Ghana framework identifies four priority areas: private investment mobilisation, trade facilitation, infrastructure and industrial development, and education and skills training.
The Takoradi Floating Dock is expected to create up to 430 direct jobs, with authorities indicating that 30 percent of positions will be reserved for women as part of inclusive employment commitments tied to the project.
Analysts say the deal highlights the growing role of blended finance and development partnerships in unlocking large-scale infrastructure projects across Africa, particularly in sectors where long-term returns and risk profiles require public-private collaboration.
Once operational, the facility is expected to reduce vessel downtime for shipping operators in West Africa and position Ghana as a competitive hub for marine services in the Gulf of Guinea.
