By Francis Ntow
Accra, Nov 14, GNA – The Venture Capital Trust Fund (VCTF) will launch a specialised financing facility in 2026 to support early-stage digital enterprises and climate-smart innovations.
The Digital Innovation Fund forms part of the World Bank-supported Ghana Digital Acceleration Project (GDAP), an initiative in partnership with the Ministry of Communications, Digital Technology, and Innovation.
Mr. Michael Abbey, Chief Executive Officer (CEO) of VCTF, disclosed this at the Ghana Digital Innovation Week 2025, emphasising the Fund’s commitment to unlocking growth opportunities through catalytic and risk capital for technology-driven businesses.
He said the Digital Innovation Fund, which would provide the needed funding for Ghanaian digital businesses, had become necessary as global economic transformation is now being fuelled by technological innovation.
“Every second, our world evolves, fuelled by the transformative power of technological innovation. Here in Ghana, we see that transformation every day in the creativity of our young entrepreneurs, the rise of digital startups, and the way innovation is reshaping how businesses and public institutions operate,” he stated.
Mr. Abbey said the Fund was, therefore, increasing its domestic capital mobilisation to de-risk innovations, connect digital businesses with emerging fund managers who understood their business models, helping Ghanaian digital solutions scale to meet emerging challenges.
“We are of the firm conviction that mobilising domestic capital will not only deepen our financial ecosystem but also ensure that the returns of Ghana’s digital economy remain in Ghana,” he stated.
He noted that as part of ongoing strategic reforms, VCTF was ensuring that for every GHS1 invested, the Fund mobilised GHS5 in additional funding and initiated business collaboration discussions with pensions and insurance industries for increased investments.
Mr. Abbey said VCTF, under its ‘responsibility-to-grow’ campaign had commenced engagements with corporate organisations on establishing an Environment, Social and Governance (ESG) Fund.
The Fund is to support ESG-compliant businesses and technology start-ups whose operations aligned with environmental, social and governance imperatives and the Sustainable Development Goals (SDGs).
He said the Fund’s commitment to inclusivity had led to the launch of Ghana’s first women-led fund last year, channelling capital into promising enterprises owned or led by women.
The CEO said digital transformation must ensure women, persons with disability, and underserved communities had access to digital tools and opportunities shaping the country’s future.
“I take this opportunity to encourage fellow institutional investors and capital providers to follow this example so that access to capital in our country becomes truly inclusive,” he said.
Mr. Abbey called on stakeholders to renew their commitment to collaboration, creativity, and purpose to co-create bold solutions that will position Ghana at the forefront of Africa’s digital revolution.
The Ghana Digital and Innovation Week 2025 was organised by Impact Investing Ghana, the Ghana Hubs Network, and the National Entrepreneurship and Innovation Programme (NEIP) with support from government, academia, development institutions, and the private sector.
GNA
Edited by Christian Akorlie