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Venture Capital Trust Fund Board Inaugurated

Accra October 9, 2017 – Hon. Abena Osei-Asare (MP), a Deputy Minister of Finance has inaugurated a nine-member Board of the Venture Capital Trust Fund with a call on the Board and the Management to be transparent in their investment decisions.
She challenged them, “to align its investment to strategic areas by focusing on investing in at least 100 small and medium enterprises over the medium term and expand the existing SMEs to help maximize economic growth and reduce unemployment.”
Hon Osei-Asare who inaugurated the board on behalf of the Minister for Finance, highlighted some audit infractions cited in the Auditor General’s report and
advised the Board to do all on its part and mandate to regain the lost image and strengthen the capacities of management and staff.
She congratulated members saying she looked forward to a cordial working relationship with the Board and Management.
The Chairman of the Board, Mr. Kofi Owusu Sekyere, on behalf of Board members, thanked President Akufo-Addo for the opportunity and honour given them to serve the nation.
He acknowledged the enormity of the task of steering the Fund in the best direction to enable it fully actualize the crucial and critical objectives for which it was established. He assured the collective commitment of the Board to work diligently and assiduously to ensure that the mandate of the Board is executed with precision and without blemish.
Other members sworn-in were Yaw Owusu-Bempong, Hon. Fuseini Issah, Efua Asabea Asare, Peterson Ekow Afedzie, John Kofi Mensah, Franklyn Owusu Asafo Adjei, Brian Frimpong, and Efua Apenteng.
The Venture Capital Trust Fund was set up by government through an Act of Parliament to develop the venture capital and private equity ecosystem in Ghana. This include providing long term funding to SMEs and support the growth of the private sector.
Source; Public Relations Unit, MoF

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