General Manager of Venture Capital Trust Fund (VCTF), Hamdiya Ismaila, has said plans are far advanced to introduce a fund management development programme to unearth the next generation of fund managers in Ghana.

According to her, the programme which is a collaboration with the NIEP is aimed at improving the fund management space to propel growth, especially among Small and Medium Enterprises.

Speaking on the sidelines of a training workshop organised for Business and Financial Journalists in Accra on July 4, the General Manager of VCTF touted that the programme has become critical to improve the fund management space.

“We are very concerned about building capacity for the next generation of fund managers in Ghana’s economy and so we are working with the National Entrepreneurship Innovation Plan (NEIP) to get the desired space and the Ghana Venture Capital Association who will lead the training sessions for the next generation of fund managers...very soon the programme will be launched,” she told GhanaWeb Business.

Hamdiya Ismaila further revealed that an investment fund of $40 million has been secured to support SMEs operating across the country.

"We are currently investing in funds who are going to invest in different sectors of the Ghanaian economy and so we should be looking at new emerging funds that will be coming to really provide support to SMEs."

She continued, "VCTF has already invested in the growth, expansion and development of SMEs which are listed on our official website with the requisite details contained."

A venture capital fund is a pooled investment vehicle that is managed by a business entity, usually, an LLC.

The fund management company utilizes the funds to invest in other companies for profit. The fund is often created for around 10 years and focuses on investing in the growth of companies, expansion or buyouts.

Since its inception, the VCTF has made a tremendous impact on venture capital financing in Ghana.

VCTF supported the establishment of the Ghana Alternative Exchange (GAX) which promotes Small and Medium Enterprises (SME) listing and also established a listing support fund dedicated to helping SMEs to cover the upfront cost required to list on the market.

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