The Foreign Affairs Ministry has held talks with Venture Capital Trust Fund (VCTF) over a potential collaboration to closely link the country’s foreign policy with domestic capital mobilisation to scale up support for small and medium-sized businesses
The foreign affairs minister Samuel Okudzeto Ablakwa engaged the Acting Chief Executive Officer of the Venture Capital Trust Fund (VCTF), Michael Abbey, where both sides discussed partnerships aimed at mobilising capital, supporting job creation and accelerating economic growth. The meeting also served as a briefing on the fund’s activities and its impact on Ghanaian businesses over the past two decades.
According to the minister, VCTF’s mandate to finance and support SMEs fits squarely within the government’s broader push to use diplomacy to attract investment and strengthen local enterprise. He pointed to the growing number of public funds operating in similar areas and said closer coordination, and where necessary consolidation, would improve efficiency and outcomes.
Abbey said the VCTF has supported businesses across sectors including agribusiness, education and technology nationwide, stressing that its role goes beyond financing. The fund tracks jobs created by beneficiary firms, monitors tax compliance and provides capacity-building support to improve sustainability and long-term performance, he said.
Looking ahead, Abbey said the VCTF is seeking partnerships to mobilise additional capital and align with government priorities such as the proposed 24-hour economy. This includes plans to support businesses under the Edwumawura Fund initiative and to prioritise companies that adhere to the Sustainable Development Goals.
Both sides agreed to deepen cooperation as part of a broader strategy to link foreign policy, capital mobilisation and private sector development, with a focus on strengthening SMEs as a driver of employment and economic resilience.
