We investigate optically reconfigurable dielectric metamaterials at gigahertz frequencies. More precisely, we study the microwave response of a subwavelength grating optically imprinted into a semiconductor slab. In the homogenized regime, we analytically evaluate the ordinary and extraordinary component of the effective permittivity tensor by taking into account the photo-carrier dynamics described by the ambipolar diffusion equation. We analyze the impact of semiconductor parameters on the gigahertz metamaterial response which turns out to be highly reconfigurable by varying the photogenerated grating and which can show a marked anisotropic behavior.