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12.08.2006 Business & Finance

SMEs Attend Workshop On Venture Capital Fund

By GNA
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More than 30 persons in Small and Medium Enterprises (SMEs) in Obuasi including farmers, hotel operators and those in the banking and construction industries have attended a day's workshop on how to access the government's Venture Capital Fund to improve their businesses.

The fund is a form of private equity that focuses on relatively high-risk businesses in the expectation that the profits would be above average.

Mr Edward Akuoko, who was the facilitator for the workshop, said the fund was to promote capital financing for SMEs in the country. He said the fund focussed on the development of agriculture, fisheries, transport and telecommunication, as well as hotel operations, construction and the promotion of tourism.

Mr Akuoko stressed, "Government is much concerned about fish farming in the country that is why fisheries is one area the fund has targeted."

The facilitator urged the participants to be more particular about the criteria for accessing the fund so that they could become beneficiaries to enable them to expand their businesses and create employment.

Opening the workshop, Alhaji Zibrim Yakubu, the Obuasi Municipal Co-ordinating Director, said it was the policy of the government to inject lot of money into the private sector to enable it to become the engine of growth for the nation.

He said that was why the venture capital fund had been established to enable the private sector to access it to enhance their enterprises.

Alhaji Yakubu observed that as a municipality with high business risks, coupled with high poverty rate, it was important to create a forum for the private sector to know the opportunities available to them to expand their businesses to enable them to create jobs for the unemployed.

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