CEO of GVCA, Amma Gyampo, advocates for local capital to attract foreign investment
In Accra, Ghana, a stakeholder engagement was held, organised by Salzburg Global and supported by Impact Hub, mPedigree, and Impact Investing Ghana. The event saw discussions on various topics, including the importance of collaborative efforts to involve youth in key industries for Ghana's economic transformation.
Amma Gyampo, the CEO of the Ghana Venture Capital and Private Equity Association (GVCA), was a key figure at the event. She emphasized the need for stronger local capital mobilization as a means to unlock opportunities, create jobs, and boost economic resilience in Ghana.
Gyampo believes that by mobilizing local capital, Ghana can attract foreign investment. She highlighted Ghana's untapped potential in sectors like feed production, maize cultivation, and fisheries. Targeted investments, she argued, are needed to remove structural barriers and create employment, especially for young people.
The Ghanaian government is also taking steps to promote local capital mobilization. The 2025 Mid-Year Budget Review promotes the capital market as a key mechanism for mobilizing local resources, supporting small and medium enterprises (SMEs), infrastructure projects, and investor confidence. This involves fiscal discipline and sustainable growth targets to reset the economy, including fostering long-term financing via bonds and equities that reduce borrowing costs.
Digital technologies and innovations have been introduced into tax administration to improve domestic revenue mobilization. For example, the Ghana Revenue Authority (GRA) launched a USSD code system to simplify presumptive tax payments and tax return filings for micro and small businesses, boosting local financial resource mobilization at the grassroots.
Institutional investors such as sovereign wealth funds and pension funds are recognized as underutilized pools of long-term capital. Strategic reallocation of these funds into domestic sectors like manufacturing, renewable energy, and digital technology is encouraged, with Ghana beginning to leverage such funds to diversify and finance infrastructure.
The GVCA, under Gyampo's leadership, contributes by enhancing the local venture capital and private equity ecosystem. Gyampo champions mobilizing local private capital to support Ghanaian startups and SMEs through venture capital and private equity funding avenues, fostering innovation-driven growth and enabling local investors to participate actively in capital markets and private financing.
In conclusion, the strategy integrates government fiscal reforms, digitalization of tax systems, empowerment of institutional investors, and a vibrant venture capital/private equity sector led by organizations like GVCA and individuals such as Amma Gyampo to mobilize and strengthen local capital in Ghana’s economy. Gyampo made these comments at the stakeholder engagement in Accra, emphasizing the role of local capital mobilization in attracting foreign investment and driving Ghana's economic transformation.
Investing in local sectors such as feed production, maize cultivation, and fisheries could attract foreign investment, as suggested by Amma Gyampo, the CEO of GVCA. To strengthen the local economy and boost resilience, there's a need for stronger local capital mobilization, which Gyampo believes can be achieved through targeted investments that remove structural barriers and create employment opportunities, particularly for youth.
