Accra, Ghana – December 12, 2024 – The Venture Capital Trust Fund (VCTF) has officially committed GH¢35million to the Zinari Women’s Enterprise Fund (Z-WEF), marking a historic milestone as the nation’s first fund dedicated to supporting women-led enterprises.
Z-WEF aims to empower small and medium-sized enterprises (SMEs) owned and operated by women, focusing on high-impact sectors such as food and agriculture, manufacturing, and consumer goods. This initiative underscores Ghana’s ongoing efforts to promote gender equity while fostering sustainable economic growth.
The official signing ceremony, held at VCTF’s Accra offices, was attended by key stakeholders, including the Board Chairman of VCTF and the Director of the Ghana Enterprises Transformation Project (GETP). Their presence highlighted the significance of this investment and the collaborative efforts driving the initiative forward.
With VCTF’s GH¢35million investment, Z-WEF has successfully reached its first close and will continue fundraising toward its GH¢120million target. This funding will provide critical financial support, mentorship, and business development services to women entrepreneurs, enhancing their contributions to the economy.
Quotes:
“This commitment reflects VCTF’s dedication to fostering inclusive economic growth by supporting women entrepreneurs who play a crucial role in Ghana’s development,” said [Board Chairman/CEO of VCTF]. “Through strategic investments like Z-WEF, we are not only empowering women but also strengthening Ghana’s overall economic landscape.”
About VCTF: The Venture Capital Trust Fund (VCTF) is a government-backed initiative that promotes venture capital financing to support SMEs in Ghana. By facilitating access to finance, VCTF fosters entrepreneurship, innovation, and sustainable economic development.
Media Contact: Lydia Awuradwoa Adjei Corporate Affairs Officer aadjei@vctf.com.gh +233 50 129 9946