President John Mahama on Wednesday announced that the Venture Capital Trust Fund (VCTF) will play a pivotal role in financing Small and Medium-sized Enterprises (SMEs) under the Government’s 24-Hour Economy Policy.
The 24-Hour Economy Policy aims to stimulate economic activity by encouraging businesses to operate around the clock, or at least in multiple shifts, to increase productivity and create jobs.
The Policy is set to be launched on July 1st to transform the local economy by creating jobs for the citizens.
Speaking during a multi-sectoral stakeholder engagement held at the Presidency in Accra, President Mahama emphasised the importance of the VCTF in supporting businesses, cooperatives, and entrepreneurs operating in key sectors of the economy.
He noted that the Fund would work alongside the Development Bank of Ghana to provide critical financial support aimed at stimulating growth, innovation, and job creation.
The initiative is a cornerstone of President Mahama’s broader economic agenda and fulfils a major campaign promise made ahead of the 2024 elections.
By ensuring greater access to capital, the 24-hour economy policy is expected to unlock new opportunities for Ghana’s private sector, particularly for SMEs, which are central to the country’s economic development.
President Mahama reaffirmed his administration’s commitment to empowering local businesses and driving inclusive economic transformation through strategic investments and policy innovation.
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