The fully owned Ghanaian angel investor company would provide services, including start-up equity financing, early stage equity financing, business growth equity financing, Small and Medium Enterprises (SME) equity financing and buying and selling of businesses.

An angel investor also known as a business angel or private investor is an affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity.

Located along the Ring Road close to Ernest Chemist, the Chief Executive Officer (CEO), Mr Richard Nii Armah Quaye said the organisation would lift the stress startup companies go through when seeking for financial assistance.

“The call of these young entrepreneurs and businesses coupled with the danger it poses for the next generation and the economy as a whole has inspired me to intervene now rather than later. Hence, the birth of Quick Angels”.

He added that Quick Angels Limited has not been established to defraud people but rather, to help young entrepreneurs with brilliant business ideas to thrive.

“I personally think it is too long a time and this is the time for Angel investors to penetrate into our economy so deep and help alleviate poverty if not for millions, then thousands,” he said.

He explianed that, “because of the challenges we’ve had in the economy over the years, there will be that skepticism about the company and people will be wondering what we are about to do. People will think that perhaps, we have also come here to bring a Ponzi scheme”

“Our mission is to drive innovative commercial Angel Investments that seek to propel Ghanaian start-ups and also restore promising businesses through strategic partnerships that exceed expectations,” Mr Quaye said.

He, therefore, urged the citizenry to do background check about the company to get firsthand information about their operation.

He added that, Quick Angels is ready to take part of the government’s responsibility on funding startups, potential and existing entrepreneurs with great ideas.

Quick Angels Limited lauded

For his part, the CEO of the Ghana Investment Promotion Corporation (GIPC), Yoofi Grant lauded the initiative, adding that it with the agenda of government to support young businesses.

In a speech read on his behalf, the Director of Investor Services of GIPC, Mr Edward Ashong Lartey urged the company to take advantage of the Youth Entrepreneurship Forum which mentors start-ups to give opportunities to deserving young companies.

Avoid loans from banks

Mr John Kumah

Opening the company, the Chief Executive Officer (CEO) of National Entrepreneurship and Innovation Plan, Mr John Kumah advised startup to desist from taking loans from banks.

“As for micro finance is a no go zone for startups in the country. You are going to kill your business the moment you take a loan at interest of five per cent a month. You have eventually collapse your business in advance.so I don’t encourage any startup to go for a micro-finance loan to start a business you will kill it”

“The banks will slow you down they are asking of collateral which start ups don’t have. A startup is a business that is beginning, it is in the formative stages, if you ask him to bring collateral in in the form of building he will not have it”, he explained.

He encouraged startups to go in for long terms funding sources in order to plan and take of the stress of repaying loan, “Quick Angels is a God sent company at this time where startups in Ghana needs long term financial sources to grow their businesses and to scale it up. They are coming with equity funding and not loans which means that startups can comfortably think about how to scale up their businesses and grow it”