Venture Capital to invest US$20m this year
Monday, May 13, 2013
The Venture Capital Trust Fund will invest US$20million in small and medium enterprises (SMEs) in different sectors of the economy this year, building on a portfolio of investments currently valued at close to US$60million.
The Fund invested US$8 million in 2012, and a total of US$16 million has been invested in 46 SMEs since its creation in 2004. It is increasingly a key investor in the local agricultural sector through its agricultural value-chain financing of cereals and grains, to provide feedstock for the poultry and brewery industries.
Chief Executive Daniel Duku, speaking to the B&FT after signing a memorandum of understanding (MoU) with the Ghana Institute of Management and Public Administration (GIMPA) to lay the ground for impact investing in Ghana, said the Fund will leverage new partnerships to provide additional support to businesses.