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Finance

Venture Capital Trust to multiply capital

The Venture Capital Trust Fund says it is working on significantly increasing its working capital in the next four years to enable it assist more small businesses. It is aiming to increase its pool of funds five-fold from a hundred million to 500 million dollars. The fund which was established in 2004 is charged with making equity or quasi-equity investments in small businesses in addition to offering technical and managerial advice. There have been calls in recent times for the fund to be increased significantly as 100 million is woefully inadequate to spur private sector growth. Chief Executive of the VCTF, Daniel Doku told Joy Business discussions were underway to find a permanent source of funding for the Fund. He said the talk time tax could be a major source of funding. He also adds that the fund will be having more direct interactions with entrepreneurs this year. Source: Joy Business/Ghana

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.