The Venture Capital Trust Fund (VCTF) has invested GH₵4.5 million in local mattress manufacturer ESERB Limited, enabling the company to move from concept stage to full-scale production after it failed to secure financing from foreign investors.
The funding was channelled through Impact Capital Advisors as part of VCTF’s strategy to strengthen Ghana’s small and medium-sized enterprises (SMEs) through patient capital and strategic advisory support. The injection enabled ESERB to establish production lines, recruit staff, deploy digital systems, and streamline operations.
Emmanuel Ewool, Chief Executive Officer (CEO) of ESERB Limited, said the investment marked a turning point for the business, adding that VCTF’s involvement also strengthened the company’s business plan, improved financial projections, and aligned its model with market realities. The company has since obtained certification from the Ghana Standards Authority (GSA), enhancing its credibility for domestic and regional markets.
ESERB plans to expand its workforce to 50 employees over the next three years and introduce double-shift production to scale output. The company is also targeting export markets within West Africa, including mattress toppers and related bedding products.
VCTF CEO Michael Abbey said the fund has now invested in 77 companies, achieved 14 profitable exits, and created over 28,000 jobs, with every cedi it committed attracting GH₵5.58 from external sources. Abbey said the ESERB investment demonstrates what long-term domestic capital can achieve in building viable businesses that generate jobs and improve livelihoods.
He also disclosed that VCTF is exploring synergies between its portfolio companies, including potential partnerships with a solar installation firm to address energy challenges facing SMEs.
