The Minister for Foreign Affairs, Honourable Samuel Okudzeto Ablakwa (MP), has held discussions with the Acting Chief Executive Officer of the Venture Capital Trust Fund (VCTF), Mr. Michael Abbey, Esq., to explore strategic partnerships aimed at accelerating Ghana’s economic growth.
The meeting, which took place on Friday, 16th January 2026, provided an opportunity for both institutions to examine areas of collaboration that would strengthen support for Small and Medium Enterprises (SMEs) as a critical pillar of national development. It also allowed the Acting Chief Executive Officer of VCTF to brief the Minister on the Fund’s activities and its impact on Ghanaian businesses over the years.
In his remarks, Hon. Okudzeto Ablakwa welcomed the proposal for collaboration and noted that the mandate of the Venture Capital Trust Fund—particularly its focus on SME development—aligns strongly with the Ministry of Foreign Affairs’ agenda of Economic Diplomacy. He emphasized the need for greater coordination among the various funds and institutions working towards similar development goals, highlighting the importance of collaboration and, where necessary, consolidation to maximise impact.
Mr. Michael Abbey, for his part, outlined VCTF’s contributions over the past two decades, noting that the Fund has supported SMEs across multiple sectors, including agribusiness, education, and technology, in various regions of the country. He stressed that VCTF’s role goes beyond financing, as it also tracks job creation, monitors tax compliance by beneficiary businesses, and provides capacity-building support to promote sustainable economic growth.
The Acting CEO further indicated that VCTF is seeking to mobilise additional capital through partnerships and align its interventions with key Government of Ghana initiatives such as the 24-Hour Economy. He revealed plans for the establishment of an Edwumawura Fund to support businesses that align with this vision, while also promoting sustainability by prioritising companies that adhere strictly to the Sustainable Development Goals (SDGs).
Both the Minister and the Acting Chief Executive Officer reaffirmed their commitment to fostering closer institutional relations, with the shared objective of strengthening SMEs, creating jobs, and driving inclusive economic growth in Ghana.
