The Chief Executive Officer (CEO) of the Venture Capital Trust Fund (VCTF), Michael Abbey, has reiterated the Fund’s commitment to enhancing operational efficiency and expanding support for small and medium-sized enterprises (SMEs) across Ghana.
Speaking at the Ghana Venture Capital Conference which also marked the launch of the Fund’s 20th Anniversary Impact Report, Mr. Abbey highlighted new initiatives aimed at bolstering the SME sector and strengthening Ghana’s private equity ecosystem.
“We are looking at establishing the 24R Economy SLE Fund to support businesses that are already in existence but would want to scale up and, of course, increase productivity,” Mr. Abbey disclosed.
He added that discussions were ongoing with the 24-Hour Economy Secretariat at the Presidency to finalize the project.
He emphasized the Fund’s sustained commitment to its existing partnerships with fund managers noting “Of course, we are committed to our existing commitments we have with our fund managers, stressing that both new and ongoing initiatives are critical to transforming the country’s investment landscape.
Mr. Abbey also pointed to recent achievements in building human capital to support the venture capital ecosystem.
He cited the successful graduation of about 20 analysts from the Venture Capital Analyst Program (VCAP) as part of the effort to strengthen expertise within the sector.
“Our Venture Capital Analyst Program ends with the vision of turning our human resources into the venture capital and private equity ecosystem to sustain the work,” he explained.
Looking ahead, he expressed optimism about the Fund’s impact, emphasizing “We hope that with these initiatives, particularly on the investment side and the ecosystem development work, we should be able to, in a couple of years’ time, help build Ghana’s venture capital and private equity system.“
Read Also: Boost Local Output, Reform Energy Sector – Economist to Govt
Source: Comfort Sweety Hayford/ATLFMNEWS
