Every year, another delegation returns from a tech conference abroad talking about Ghana's potential as a digital hub. What we talk about far less is how much of the capital funding that potential still comes from outside the country — and what that means for who actually owns the upside when a Ghanaian startup succeeds. Local pension funds and institutional investors remain almost entirely absent from early-stage tech investing here, even as they pour money into government bonds and real estate. That's not a criticism of caution; it's a call for a proper local venture ecosystem, with the regulatory clarity and risk appetite to match. Until that changes, our best founders will keep taking foreign term sheets — and foreign ownership — by default, not by choice.