Mr Matthew Boadi Adjei, Board Chairman of the association, disclosed this at the end of the association’s maiden conference in Accra.

The two-day conference, which was on the theme’’ Leveraging Private Equity for Ghana’s Economic Recovery’ was a platform to illuminate private equity as a catalyst for Ghana’s economic recovery.

Capital Owners including pension trustees, insurance companies, asset managers and members of the association explored the full spectrum of private capital models.

Mr Boadi who is also the Chief Executive Officer of the Oasis Capital, emphasised the potential of private equity in providing patient and long-term capital to Small and Medium-Term Enterprises (SMEs) in Ghana.

With his vast experience in private equity, Mr Boadi said private equity could help SMEs to set up proper management structures and governance.

It would also navigate pervasive risks and provide sustainable jobs while internationally pursuing a double bottom line by providing returns for investors and fostering sustainable job creation.

Mr Boadi said despite the economic challenges faced by the country, private equity can provide an alternative option for investment leading to inclusive and innovative solutions to navigate the storm.

Mr Yaw Owusu-Brempong, Chief Executive Officer of the Venture Capital Trust Fund said the association’s goal for this year was to build the capacity of emerging managers to ensure that there were enough managers to mobilize and invest capital, supporting SMEs that create jobs ad livelihoods for Ghanaians.

‘The fund is looking to deploy a commitment of about Gh¢200 million towards this goal’, he said adding that investor comfort with regulations and trends is critical for attracting capital into Ghana’s private equity industry.

Mr Owusu-Brempong said the conference was a unique opportunity for businesses, investors, and fund managers to connect, explore and dialogue on how to tap into private capital, a critic al source of financing in an emerging market like Ghana where the capital markets were not deep and traditional debt financing was expensive.

The conference brought together 200 members from across Africa and was sponsored by many companies including FSD Africa, VCTF and British International Investments.