Fund supports growth of SMEs with US$ 16 million

By | May 27, 2016

Business News of Friday, 27 May 2016

Source: GNA


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Venture Capital Trust Fund has made available US$ 16 million in support of the growth of small and medium enterprises (SMEs) across the nation.

Mr. Emmanuel Osei Akuamoah, the Adum Manager of the Fund, who announced this said a total of 50 businesses benefitted.

He was addressing a day’s clinic held for small-scale business operators and journalists in Kumasi.

The goal was to expose them to skills in the writing of business plans, best business practices, agricultural value chain, business opportunities, challenges and the way forward to build the economy.

Mr. Akuamoah said the Fund, had disbursed another US$ 3.5 million to key actors in the agricultural value chain.

The money went to the cereal and grains sector, poultry, livestock and the brewery industry.

He said it would continue to give the strong push to the private-sector by way of long-term funds and technical assistance.

That, he noted, was important to promote their growth and expansion – to give jobs and create wealth for the people.

Mr. James Nsiah, Investment Manager of the Fund, noted that value addition was vital for industrialization and asked that the SMEs worked assiduously to add value to their products.

This, he said, was the way to remain competitive and optimize returns.