By Kofi Ahovi
Venture Capital Trust Fund (VCTF) has organized a 3-day training workshop for its investee companies that have received investment approval from the fund.
The training workshop formed part of VCTF’s Technical Assistance (TA) program of equipping them with skills to enhance their performance. The maiden workshop centred on financial reporting and management and entrepreneurship training.
The purpose of the training program was to deepen the understanding of sound financial management and how to effectively report on company’s finances to ensure compliance.
The participants were taken through the preparation of cash flow statements, income statements and balance sheet. Others included the preparation of monthly, quarterly and annual reports, internal auditing as well as compliance with Internal Revenue Service (IRS), Value Added Tax (VAT) and Social Security and National Insurance Trust (SSNIT) requirements.
The TA programme is in three folds; capacity building, corporate mentoring, where well organized institutions nurture upcoming ones; and specific interventions by contracting experts to work with investee companies.
The CEO of VCTF, Nana Osei Bonsu stated that the fund has set aside GH¢2m for the TA programme adding that the program is aimed at ensuring the growth of Small and Medium-scale Enterprises (SMEs) which are dear to the fund.
He hinted that a good governance training program would be organized for board of directors of the investee companies under the TA programme.
Osei Bonsu believes that with adequate funding and technical support, Ghanaian SMEs will be equipped to withstand the threat of globalization and competition.
Venture capital or private equity is an opportunity whereby a financier unrelated to the owner provides money to start or grow existing businesses for a period of time, usually medium to long term.
A venture capital investment is usually made in exchange of ownership share rights in the business.
Since its establishment in 2004, VCTF has invested a total of GH¢9m in 20 companies. These investments were done in partnership with Activity Venture Capital Finance Company, Bedrock Venture Capital Finance Company, Gold Venture Capital Limited and Fidelity Equity Fund 11 ltd.
Venture Capital Trust Fund (VCTF) has organized a 3-day training workshop for its investee companies that have received investment approval from the fund.
The training workshop formed part of VCTF’s Technical Assistance (TA) program of equipping them with skills to enhance their performance. The maiden workshop centred on financial reporting and management and entrepreneurship training.
The purpose of the training program was to deepen the understanding of sound financial management and how to effectively report on company’s finances to ensure compliance.
The participants were taken through the preparation of cash flow statements, income statements and balance sheet. Others included the preparation of monthly, quarterly and annual reports, internal auditing as well as compliance with Internal Revenue Service (IRS), Value Added Tax (VAT) and Social Security and National Insurance Trust (SSNIT) requirements.
The TA programme is in three folds; capacity building, corporate mentoring, where well organized institutions nurture upcoming ones; and specific interventions by contracting experts to work with investee companies.
The CEO of VCTF, Nana Osei Bonsu stated that the fund has set aside GH¢2m for the TA programme adding that the program is aimed at ensuring the growth of Small and Medium-scale Enterprises (SMEs) which are dear to the fund.
He hinted that a good governance training program would be organized for board of directors of the investee companies under the TA programme.
Osei Bonsu believes that with adequate funding and technical support, Ghanaian SMEs will be equipped to withstand the threat of globalization and competition.
Venture capital or private equity is an opportunity whereby a financier unrelated to the owner provides money to start or grow existing businesses for a period of time, usually medium to long term.
A venture capital investment is usually made in exchange of ownership share rights in the business.
Since its establishment in 2004, VCTF has invested a total of GH¢9m in 20 companies. These investments were done in partnership with Activity Venture Capital Finance Company, Bedrock Venture Capital Finance Company, Gold Venture Capital Limited and Fidelity Equity Fund 11 ltd.
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