President John Dramani Mahama has announced that the Venture Capital Trust Fund (VCTF) will play a central role in financing Small and Medium-sized Enterprises (SMEs) under the government’s 24-Hour Economy Policy.
The policy, which is set to officially roll out on July 1, is designed to stimulate economic growth by encouraging businesses to operate around the clock or in multiple shifts. The goal is to boost productivity, drive innovation, and create more employment opportunities across various sectors.
Speaking at a multi-sectoral stakeholder engagement at the Jubilee House in Accra, President Mahama highlighted the critical importance of the VCTF in providing capital and financial support to entrepreneurs, cooperatives, and businesses operating in strategic areas of the economy.
He noted that the VCTF would work closely with the Development Bank of Ghana to deliver targeted financial interventions aimed at expanding access to funding, fostering innovation, and accelerating job creation.
“This initiative is not only a key component of our economic transformation agenda but also a fulfillment of a major campaign promise,” President Mahama said.
The 24-Hour Economy Policy will open new avenues for private sector growth, with SMEs, recognized as the backbone of Ghana’s economy, set to benefit significantly from increased capital availability.
President Mahama reiterated his administration’s commitment to empowering local businesses through bold policy reforms and strategic investments, emphasizing that inclusive economic development remains a top priority for his government.
