Local business leader Amma Gyampo, standing as the CEO of GVCA, supports employing domestic capital as a strategy to entice foreign investments.
Amma Gyampo Advocates for Stronger Local Capital Mobilisation in Ghana
Amma Gyampo, CEO of the Ghana Venture Capital and Private Equity Association (GVCA), has called for stronger local capital mobilisation in Ghana to unlock domestic financial resources and support the growth of small and medium enterprises (SMEs).
Speaking at a stakeholder engagement in Accra, Gyampo emphasised the importance of local capital mobilisation in creating a more stable, sustainable investment environment that can support Ghana's industrialisation and attract foreign investors.
Gyampo believes that by committing to fiscal discipline, controlling inflation, and stabilising the Ghanaian cedi, the government can reduce currency risks and investment uncertainty, making it easier for long-term investors to confidently deploy capital. This stability is vital for industrial projects and enterprise growth.
Moreover, Gyampo highlighted that reducing government borrowing in domestic markets can improve conditions for private investment. When the government heavily borrows domestically through high-yield instruments, it can crowd out private sector access to affordable finance. By easing this competition, private investment can flourish.
Gyampo also stressed the need for collaborative efforts across industries like poultry, rice, and fisheries. She highlighted untapped potential in these sectors, believing that targeted investments can remove structural barriers and create employment opportunities.
However, Gyampo did not provide specific details on the structural barriers she wants to remove through targeted investments. She also did not specify which industries she believes the youth should be involved in beyond poultry, rice, and fisheries mentioned earlier.
The stakeholder engagement, organised with Salzburg Global and supported by Impact Hub, mPedigree, and Impact Investing Ghana, did not discuss the impact of involving youth in key industries on Ghana's economic resilience or the potential role of local capital mobilisation in attracting foreign investment beyond Gyampo's earlier mentioned belief.
Despite these gaps, Gyampo's call for stronger local capital mobilisation signifies a significant step towards boosting economic resilience, creating jobs, and unlocking opportunities in Ghana. By reducing macroeconomic and currency risks, building a conducive policy environment, and signalling a growing domestic investment ecosystem with diversified funding sources, Ghana can attract foreign investors and position itself as a secure, promising market with sustainable growth prospects.
Strengthening local capital mobilisation in Ghana, as advocated by Amma Gyampo, could potentially enhance business opportunities by providing a stable, sustainable investment environment for investors focusing on financing and investing in enterprises. By committing to fiscal discipline, reducing government borrowing, and easing competition, an affordable financing landscape can be created, which could further boost business growth in sectors such as poultry, rice, and fisheries.
