Venture capital and private equity funds, which account for nearly 50 per cent of global impact investing capital and about 33 per cent in Ghana, continue to play a critical role in driving innovative financing. Beyond providing capital, these funds offer strategic support to emerging enterprises, accelerate business growth, and generate competitive returns for investors.
Speaking in an interview with Joy Business, the Chief Executive Officer of the Ghana Venture Capital and Private Equity Association, Amma Gyampo, underscored the urgent need for stronger collaboration to enhance Ghana’s Limited Partnership Act framework, which she described as essential to unlocking the sector’s full potential.
“Impact investing is not charity,” Ms. Gyampo said. “It delivers profitability by addressing large population needs and deep structural gaps that governments alone are unable to fill. We believe strongly in solving social and poverty-related challenges through sustainable business models.”
She noted that the Association, working closely with the Venture Capital Trust Fund (VCTF), is actively engaging the Ministry of Finance to push for the passage of the Limited Partnership Act. According to her, extensive consultations and drafting work have already been undertaken to ensure the framework aligns with global best practices.
“We may be behind more mature venture capital and private equity markets, but if we can get this Act passed by 2026 in a way that makes Ghana competitive, then we would have delivered a major win for the ecosystem,” she added.
Also speaking, the Board Chair of the Ghana Venture Capital and Private Equity Association, Michael Baodu Agyei, highlighted government initiatives aimed at expanding access to long-term, patient capital to support sustainable economic growth.
He pointed to the establishment of the Venture Capital Trust Fund, the Development Bank, and the 24-Hour Economy Secretariat as deliberate efforts to channel funding into productive sectors, particularly agriculture and its value chains.
“The overarching objective of these interventions is sustainable job creation,” Mr. Agyei said. “Employment is an existential need for this country, and once we are able to create jobs sustainably, economic growth becomes inevitable.”
However, industry players say significant challenges remain. The Chief Investment Officer at Origen Private Debt Fund, Yaw Benneh Amponsah, described the sector as undercapitalised, citing low domestic participation in private investment funds.
“We don’t have enough Ghanaian capital invested in Ghanaian opportunities,” he noted. “Only about one per cent of pension assets are currently invested in the real economy through private equity and private debt funds. As a result, we are unable to undertake larger deals or scale transactions to the level required.”
The discussions formed part of the Ghana Venture Capital and Private Equity Association Members and Partners Cocktail Soirée held in Accra, which brought together industry stakeholders to network, share insights, and strengthen collaboration across the investment ecosystem.
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