Editorial: Unlocking SME funding for 24-hour economy

The Venture Capital Trust Fund and 24-Hour Economy Secretariat’s signing a memorandum of understanding (MoU) to establish a dedicated financing vehicle for small- and medium-sized enterprises operating around the clock is welcome news.

Mr. Emmanuel Abbey, Chief Executive-Venture Capital Trust Fund, in explaining said the MoU was designed to ensure businesses seeking to run continuous operations would have access to long-term, risk-tolerant financing of a kind that conventional commercial lenders have been unwilling to provide.

First announced at the 2025 Kwahu Business Summit, the agreement was concluded on the eve of the site visit (Monday, March 2, 2026) and represents the most tangible institutional step yet taken to channel structured private capital into government’s 24-hour economy programme.

Presidential Advisor for the 24-Hour Economy and Accelerated Export Development, Augustus Tannoh, has observed that high energy costs is a structural disadvantage that has eroded Ghana’s competitiveness relative to neighbouring countries competing for the same industrial investment flows.

Thus, the convergence of a dedicated financing facility and a substantially lower energy cost environment will materially alter the feasibility calculus for manufacturers and processors considering round-the-clock operations.

Mr. Abbey indicated that the fund is already exploring ways to address energy constraints through cross-portfolio collaboration, pointing to a solar installation company within VCTF’s investment portfolio as a potential supplier of renewable energy solutions to manufacturing companies facing similar difficulties.

The VCTF operates as a government-backed fund of funds, deploying capital into licenced Venture Capital Finance Companies which in turn invest directly in SMEs.

A case in point is ESERB – a mattress manufacturer in Tema that was built from inception using VCTF-backed funding. Emmanuel Ewool, Chief Executive of ESERB, said the VCTF investment has been transformative for the business, which had no operational existence prior to receiving funding.

Mr. Ewool had been seeking investment abroad, having been turned down by multiple prospective financiers. The capital enabled ESERB to acquire land, construct a facility, procure machinery, recruit and train staff and ultimately bring a certified product to market.

The company has attained Ghana Standards Authority certification and is already building out its sales and distribution network in Accra, with export sales informally recorded in Ivory Coast even before its formal commercial launch.

Ewool intends to expand across the West African sub-region within three to five years, describing the VCTF relationship as foundational to those prospects.

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