VC and PE professionals launch Association in Ghana

28 Oct 2021

Venture Capital (VC) and Private Equity (PE) practitioners in Ghana rallied together to launch the Ghana Venture Capital and Private Equity Association (GVCA) at an event attended by industry players, government officials, development finance personnel, regulators and members of the press.

The association launched with 15 members and will serve as the mouthpiece for the VC/PE industry and work to bring legitimacy to the asset class as well as practitioners who operate in the space.

GVCA will also focus on key interventions that strengthen the capacity of VC/PE players and make Ghana a preferred destination for VC/PE asset allocators. 

Commenting on the news, AVCA CEO, Abi Mustapha-Maduakor, said: "I am extremely pleased to support the launch of the Ghana Venture Capital and Private Equity Association, which is a testament to the growth and thriving PE and VC ecosystem in Ghana. Ghana has long been one of the top destinations for private capital in west Africa, rated by LPs as one of the top four most attractive countries for PE investment in Africa over the next three years. At a time where private capital is increasingly important in addressing the funding gap across the continent, GVCA will play a critical role in continuing to advocate for and support existing VC and PE players in the market as well as guide new entrants to the market to bridge this gap."

The launch, which took place at the Kempinski Hotel Gold Coast City in Accra and was also streamed via zoom, was very well attended. In his keynote address delivered by Sampson Akligoh (Director for Financial Services at the Ministry of Finance), the Minister of Finance, Mr Ken Ofori-Atta, pledged government support to deliberate policy action that will drive the growth of the industry in line with its current ambitious private sector initiatives. The chair of the executive committee of GVCA, Mr Samuel Yeboah, in his presentation of the association, shed light on key interventions planned by the association in partnership with other organizations to increase the absorptive capacity of the industry to provide patient capital for small and growing businesses in the country. Top amongst these are programs to develop the next generation of fund managers and a certification program to improve the quality of support provided for SMEs in the country.

The event also featured two very engaging panel discussions that shared the success stories of the industry and also looked at the future of VC/PE in Ghana. The CEO of Venture Capital Trust Fund (the sponsors of the launch), Mr Yaw Owusu-Brempong, expressed optimism about the future of the industry but stressed the importance of deliberate action to achieve this, a  sentiment that was echoed by panellists. The chairman of the event, Mr Mawuli Ababio, one of the pioneers of the industry in Ghana and currently the Managing Partner for PCM Capital Advisors, commended the leadership of GVCA for the initiative and charged them to strive to maintain the spirit of collaboration and unity in addition to the other planned efforts.

GVCA is an association of industry practitioners specialized in the business of venture capital and private equity in Ghana, as well as professionals who provide services to the industry. The vision of the organization is to be the voice for VC/PE in Ghana and to bring legitimacy to industry practitioners. The organization’s mandate is to help grow the VC/PE industry in Ghana and establish standards that safeguard investors and investees.

- Ends -

Website: http://gvca-ghana.org

Linkedin: https://www.linkedin.com/company/gvca-ghana/

Contact: info@gvca-ghana.org

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