MICROCAPITAL BRIEF: Ghana Institute for Management and Public Administration, Venture Capital Trust Fund Establish Centre for Impact Investing

Venture Capital Trust Fund (VCTF), an initiative of the government of Ghana to provide low-cost capital to private businesses, reportedly has signed a memorandum of understanding with the government-run business school Institute for Management and Public Administration (GIMPA), establishing a Centre for Impact Investing. This organization will seek to promote impact investing as a means of increasing business and economic development in Ghana, bringing together professionals with expertise in investments and basic infrastructure, social and economic development, policy analysis and advocacy.

Mr Daniel Doku, the CEO of VCTF, reportedly indicated that the Centre for Impact Investing is expected to be funded via VCTF using grant funds from the Rockefeller Foundation, a US-based nonprofit organization that seeks to “promote the well-being” of humanity through “smart globalization.” The Centre is expected to be launched by the end of June 2013.

Since its establishment, VCTF has used its seed funding of GHS 22.4 million (USD 11.2 million) to fund initiatives that are estimated to have resulted in private-sector economic growth of GHS 40.2 million (USD 20.2 million), 2,500 jobs directly created and 4,500 indirect jobs.

By Makai McClintock, Research Associate

About The Rockefeller Foundation
The Rockefeller Foundation, founded in 1913, is a US-based nonprofit organization whose mission is to “promote the well-being” of humanity through “smart globalization.” The Foundation works to overcome social, economic, health and environmental challenges; it also seeks to promote growth that offers poor and vulnerable people more access to opportunities that can improve their lives. It operates worldwide with offices in Kenya, Thailand, Italy and the United States. As of December 2011, the Rockefeller Foundation had USD 3.5 billion in total assets and annual grants of USD 142 million.

Sources and Additional Resources

Ghana Business News, “Venture Capital Trust Fund Signs MoU with GIMPA to Establish Centre,” http://www.ghanabusinessnews.com/2013/05/09/venture-capital-trust-fund-signs-mou-with-gimpa-to-establish-centre/

Venture Capital Trust Fund, “Operations,” http://www.venturecapitalghana.com.gh/AboutUs/Operations/tabid/95/Default.aspx

MicroCapital: “MICROFINANCE PAPER WRAP-UP: “Perspectives on Progress: The Impact Investor Survey,” March 19, 2013.
https://www.microcapital.org/microfinance-paper-wrap-up-perspectives-on-progress-the-impact-investor-survey-by-yasemin-saltuk-published-by-jp-morgan-and-the-global-impact-investing-network-giin/

MicroCapital: “MICROCAPITAL BRIEF: Bill & Melinda Gates, Gatsby Charitable, Rockefeller Foundations and JP Morgan Invest $25m to Establish African Agricultural Capital Fund,” October 10, 2011.
https://www.microcapital.org/microcapital-brief-bill-melinda-gates-gatsby-charitable-rockefeller-foundations-and-jp-morgan-invest-25m-to-establish-african-agricultural-capital-fund/

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