Oasis Capital, a venture capital fund management firm has launched a US$50 million growth and venture capital fund to support the export and Agriculture sector.
The launch of the fund which was second successful time by Oasis Capital, attracted the big players in the financial sector took place at Alisa Hotel yesterday in Accra.
Speaking in an exclusive interview with Today, the Chief Executive Officer (CEO) of Oasis Capital, Mr Mathew Boadu Adjei explained that his firm has identified one of the biggest challenges which has constantly effected the Smell and Medium Enterprises (SMEs) in Ghana.
According to him, long term capital has been the biggest gap in the financial sector thus affecting SMEs.
“The 50 million United State dollars (US$50M) fund will shore-up the capacity of the SME sector to help them grow their capital”, he added.
Mr. Boadu Adjei however, announced that his firm would invest about 40 per cent of the 50 million United State dollars in the Cote D’Ivoire economy.
Currently “we have been able to raise about 27 million dollars the support of our partners and anchor Investors: DGGF, IFC, ATH, DEHL, VCTF, AGF, Dutch Embassies of Ghana and Cote D’Ivoire”, he said.
In his key note address, Governor of the Bank of Ghana, Dr Abdul-Nashiru Issahaku advised the managers of such firms to also inculcate in their models training, capacity building and technical support to SMEs.
Dr Issahaku stated that SMEs are the key pillars of every economy, hence the Central Bank’s support for such banks.
“Private equity plays a lead role in the growth and development of very nation. The Malaysians, Taiwanese, and other Asian tigers are all where they are because the private took charge of the developmental drive of their economy”, he added.
The governor, however, called on all sector players, to put their shoulders on the wheel to move the economic fortunes of the country.
“Consolidating the gains and improving upon it does not rest in the bossom of the finance ministry or the governor of the Central Bank but the responsibility of all”, Dr Issahaku noted.
Source: Ghana/todaygh.com/Franklin Asare-Donkoh