The Securities and Exchange Commission (SEC) in Ghana is urging small and medium-scale enterprises (SMEs) and entrepreneurs to embrace investments to support their growth endeavors.
SEC believes that attracting investments can empower SMEs to unlock their full potential and address unemployment challenges within the country.
Reverend Daniel Ogbarmey Tetteh, Director General of SEC, underscored the role of venture capital and private equity in providing accessible funding avenues for SMEs, aligning with Ghana’s priority of fostering job creation and resilient businesses.
Addressing participants at the annual conference of the Ghana Venture Capital and Private Equity Association, Reverend Tetteh emphasized the importance of SMEs maintaining accurate financial records to attract potential investors.
He also stressed the necessity for enhanced education among SMEs to encourage openness and transparency in their business operations, thereby enhancing their appeal to prospective investors.
“The good news is that we have venture capital and private equity firms who have been successful in raising money and I will tell you that are looking for good deals if I say good deals, good investment opportunities to channel the funds.
“If you want to grow and expand, you need to pay the price of opening up, and being transparent because for an investor to bring money to the table, he needs to have an idea of how you are going about, running your business model. So I think we just need to get more education for SMEs to be more comfortable.
The Ghana Venture Capital and Private Equity Association intends to launch training programs aimed at bolstering SMEs’ appeal to potential investors.
According to CEO Hannah Acquah, entrepreneurs require investment readiness training to equip themselves for funding opportunities and partnerships within the industry.
“There’s always an opportunity to finance your projects. It’s all about meeting the right stakeholders like members of the Ghana Venture Capital and Private Equity Association, who can structure your business to enable you to get financing for your product.”
“A lot of SMEs need investment readiness training. If we are preparing ourselves, structuring ourselves to enable us to get ready to invest in entrepreneurs, entrepreneurs on the other hand need to prepare themselves.”