The 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 had expanded Ghana's venture capital ecosystem, despite limited resources.
Mr Ampomah noted that funding remained a critical challenge, particularly since the fund's original source of financing was repealed with no replacement, leading to irregular funding.
Despite this, the fund has successfully utilised a $40 million investment to support and expand the venture capital landscape in Ghana. "When we started about 20 years ago, there was no fund manager or venture capital fund available for SMEs," said Ampomah. "Today, 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," he outlined.