The Head of Investment Banking at Stanbic Bank Ghana, Kobby Bentsi-Enchill, has urged entrepreneurs and financiers to embrace patient capital and equity-led financing as key pathways to sustainable business growth in Ghana.
He made this call during a panel discussion on the topic, “Creating New Pathways Between Credit and Equity,” at the Ghana Venture Capital Association (GVCA) Conference 2025.
In his submission, Mr. Bentsi-Enchill highlighted the reality of the entrepreneurial journey, emphasising the value of starting small with personal or family support and scaling with long-term financing.
“Every big idea starts as a dream, a desire to solve a real problem. But the first step is often self-funded. Entrepreneurs typically begin with their own resources or those of close friends and family to test the viability of their ideas. Once that proof of concept is clear, what’s needed next is patient capital – money that isn’t in a hurry for returns, but is aligned with long-term growth,” he said.
He noted that equity financing plays a critical role at this stage, allowing entrepreneurs to access capital without the pressure of immediate repayments.
“Equity is foundational to a healthy capital structure. When entrepreneurs show they’ve invested their own money, what we call ‘skin in the game’, it signals commitment and builds investor confidence,” he added.
Stanbic Bank executive further acknowledged the macroeconomic challenges facing both lenders and borrowers. “In many economies, we’ve seen distortions where governments borrow heavily, offering high returns on treasury instruments. This incentivizes banks to park funds there instead of lending to businesses, creating an imbalance,” he explained.
He also addressed the pressures of borrowing at high interest rates in local currency. “With debt rates around 35% in cedis, many entrepreneurs struggle with the idea of giving up a significant portion of their profits just to service loans. Some resort to borrowing in dollars, betting against forex depreciation — and while that can work short term, it also carries serious risks.”
Despite these challenges, Mr. Bentsi-Enchill expressed optimism about Ghana’s financial future. “This conference has been incredibly inspiring. We’re beginning to have the right conversations about long-term investing, about the role of equity, and about building financing models that support innovation and resilience. It feels like we’re turning a corner.”
The GVCA Conference 2025 convened key stakeholders in Ghana’s investment ecosystem, including fund managers, institutional investors, policymakers, and development partners. The gathering served as a platform to explore innovative strategies for unlocking domestic capital to drive inclusive growth and private sector development.
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