Young Ghanaians in the UK have been urged to take advantage of the Ghana Angel Investor Network (GAIN), a group that invests in developing businesses with potential for significant growth and higher return on investment.
GAIN falls within the ambit of the Venture Capital Trust Fund that was established in 2004 by the government to provide low-cost financing to small and medium enterprises (SMEs). Since then it has provided $17 million to 48 SMEs.
In a message to the recent press launch of the 2015 Ghana UK Based Achievement (GUBA) Awards in London’s Docklands, the Ghana High Commissioner to the UK, Mr Victor Smith, said: “Unearthing the talents is one critical aspect and linking them to the appropriate source of long-term finance is also very crucial.”
GUBA, which was founded in 2009 by Ms Dentaa Amoateng, recognises outstanding individuals within the Ghanaian community in the UK and its Awards night celebrates their achievements.
The High Commissioner’s message, read by Mr Kofi Addo, Head of the Trade and Investment Section of the High Commission, noted: “Over the last one month, the Mission has hosted various events and I am really excited about the level of participation and the calibre of participants.
“The discussions have centred on creating a new mass of young and innovative Ghanaians to support our development agenda.”
Referring to the Awards night, which will take place on July 4, the High Commissioner’s message stressed: “I would therefore encourage GUBA to engage GAIN and such other bodies to ensure that some of the awardees are linked to appropriate mentors and investors.”
GAIN is limited by guarantee and established under Ghanaian law but it is a not- for-profit body. However, members and beneficiaries seek to derive significant returns on their investments.
At the press launch, the Project Manager of the GUBA Foundation, Ms Amma Owusu-Afriyie, said the organisation’s focus over the next three years would be on reducing infant mortality in Ghana.