The Venture Capital Trust Fund (VCTF) has invested GH₵4.5 million in local mattress producer ESERB Limited, accelerating the company’s transition from concept stage to full-scale operations.
The funding, channelled through Impact Capital Advisors, forms part of VCTF’s broader strategy to strengthen Ghana’s small and medium-sized enterprises (SMEs) through patient capital and strategic advisory support.
After unsuccessful attempts to secure foreign financing, ESERB Limited turned to domestic funding sources. The capital injection has enabled the company to establish production lines, recruit staff, deploy digital systems and streamline operational processes.
Mr. Emmanuel Ewool, Chief Executive Officer of ESERB Limited, said the investment marked a turning point for the business.
“With financial backing and strategic guidance, we were able to move beyond a business plan on paper to actual production, employment creation and structured operations,” he said.
He noted that while the company initially sought international investors, local financing ultimately proved decisive in launching operations in 2025.
According to him, VCTF’s involvement also strengthened the firm’s business plan, improved financial projections and aligned its model with market realities.
Mr. Ewool described the funding approval as a strong endorsement of the company’s vision, positioning it to compete more effectively in Ghana’s manufacturing sector.
The company has since secured certification from the Ghana Standards Authority, enhancing its credibility and enabling it to meet quality benchmarks required for domestic and regional markets.
Looking ahead, ESERB Limited plans to expand its workforce to 50 employees over the next three years and introduce double-shift production to scale output.
The company is also targeting export opportunities within West Africa, including mattress toppers and related products.
Mr. Michael Abbey, Chief Executive Officer of VCTF, said the investment underscores the transformative role of patient capital in building sustainable Ghanaian enterprises.
“This business started from ideation. It demonstrates what long-term capital can achieve in creating viable businesses that generate jobs and improve livelihoods,” he said.
He added that ESERB’s growth has broader economic implications, particularly for local manufacturing and import substitution.
He disclosed that VCTF is exploring synergies between its portfolio companies, including potential partnerships with a solar installation firm to address energy challenges faced by SMEs.
Analysts say the investment highlights the importance of domestic capital mobilisation in supporting indigenous businesses, reducing reliance on external funding and strengthening Ghana’s industrial base.
VCTF maintains that empowering SMEs remains central to Ghana’s economic transformation agenda, given their role as key drivers of employment, innovation and inclusive growth.
