{"id":250732,"date":"2024-11-14T10:51:23","date_gmt":"2024-11-14T10:51:23","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/11\/14\/venture-captial-marks-20-years-anniversary-in-accra\/"},"modified":"2024-11-14T10:51:23","modified_gmt":"2024-11-14T10:51:23","slug":"venture-captial-marks-20-years-anniversary-in-accra","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/11\/14\/venture-captial-marks-20-years-anniversary-in-accra\/","title":{"rendered":"Venture Captial marks 20 years’ anniversary in Accra"},"content":{"rendered":"
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\u00a0The Venture Capital Trust Fund (VCTF) has marked its 20-year journey this year, reflecting on its impact on small and medium enterprises (SMEs) in Ghana and the challenges it faces in its activities.<\/p>\n
Speaking on the achievements and challenges in Accra yesterday, the General Manager of VCTF, Mr Percival Ofori Ampomah, highlighted how the fund had expanded Ghana\u2019s venture capital ecosystem, despite limited resourc\u00ades.<\/p>\n<\/figure>\n
Mr Ampomah noted that funding remained a critical chal\u00adlenge, particularly since the fund\u2019s original source of financing was repealed with no replacement, leading to irregular funding.<\/p>\n
Despite this, the fund has successfully utilised a $40 million investment to support and expand the venture capital landscape in Ghana.<\/p>\n
\u201cWhen we started about 20 years ago, there was no fund manager or venture capital fund available for SMEs,\u201d said Ampo\u00admah.<\/p>\n
\u201cToday, we have at least 14 funds invested in by VCTF and more from others, venture capital ecosystem in Ghana has grown to include approximately seven billion in total assets, with a significant portion coming from external investors,\u201d he outlined.<\/p>\n
However, he said, indigenous fund managers were also con\u00adtributing, and the goal was to see more local funds in the mix.<\/p>\n
Mr Ampomah highlighted that over 90 per cent of VCTF funding currently comes from foreign sources, with local investors slowly gaining interest due to a great\u00ader understanding of venture capital and private equity.<\/p>\n
\u201cA key challenge for local investment has been a lack of understanding of the asset class. Regulatory restrictions also limited local investment options, but recent regula\u00adtory changes are allowing more local participation,\u201d he explained.<\/p>\n
To boost local investment, he noted, VCTF is looking to bridge its $105 million funding gap, which would make the trust fund self-sustaining.<\/p>\n
Mr Ampomah stressed the need for government support, poten\u00adtially through partnerships with international institutions like the World Bank.<\/p>\n
\u201cThe fund previously received $40 million from the World Bank, and another $ 18 million is expect\u00aded from the Ghana Data Accelera\u00adtion Project,\u201d he stated.<\/p>\n
Looking to the future, he said, VCTF aims to increase local fund\u00ading and expand its reach to more SMEs.<\/p>\n
Moreover, Mr Ampomah expressed hope that in the next 20 years, VCTF would become a cornerstone of Ghana\u2019s SMEs sector, helping to build a more robust economy through local and international partnerships.<\/p>\n
The Investment Manager, Abra\u00adham Mr Mensah-Belley, said VCTF has significantly boosted small and medium enterprises (SMEs) across the country, many of which have become familiar names to Ghana\u00adians.<\/p>\n
\u201cIn the last eight years, we\u2019ve shown that even with limited funds, we can create substantial growth,\u201d he underlined.<\/p>\n
\u00a0The Venture Capital Trust Fund (VCTF) has marked its 20-year journey this year, reflecting on its impact on small and medium enterprises (SMEs) in Ghana and the challenges it faces in its activities. Speaking on the achievements and challenges in Accra yesterday, the General Manager of VCTF, Mr Percival Ofori Ampomah, highlighted how the fund […]<\/p>\n","protected":false},"author":1,"featured_media":250733,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-250732","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"\n
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