Percival Ofori Ampomah addressing the media
Venture Capital Trust Fund (VCTF) has celebrated 20 years of providing funding support to Small and Medium Scale Enterprises (SME) in the country.
The VCTF is a government sponsored fund established in 2004 under (Act 680) to help create jobs by providing funding to SMEs to help facilitate business growth in the country.
Speaking at a media breakfast meeting to commemorate the milestone in Accra, General Manager, VCTF, Percival Ofori Ampomah, explained that it is the government’s desire to support entrepreneurs in the country through Venture Capital.
He advised SMEs to take advantage of the VCTF since it provides long term funding instead of taking loans from banks which have high interest rates.
He said, “I want to tell SMEs that there is help and there is hope for long term funding in Ghana.”
He again advised entrepreneurs to be honest in their dealings with fund managers and take the necessary corrections in their businesses in order to be successful.
“Please put your acts together, be honest, disclose all information and be willing to work with a partner that wants to support you,” he advised.
Investment Manager at VCTF, Abraham Mensah, in an interview with the media expressed confidence in the future of VCTF saying every dollar distributed generates four dollars in return which has impacted many companies in the country.
He said, “More money has been disbursed to many common companies that interact with you and I, companies that have benefit from Venture Capital Trust Fund. Venture Capital has the capacity to develop this economy and more money will be deployed in the coming days and years to make the necessary impact.”
In a documentary, the VCTF showcased companies such as Everpure Mineral Water, AUCC, Paper Magic as some beneficiaries of the Fund.
By Florence Asamoah Adom