Tag: Micro-finance companies
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BoG asks for GHc700m to clean up microfinance industry
The Bank of Ghana (BoG) has requested for financial support from the Ministry of Finance to clean up the microfinance and savings and loans industry to save thousands of depositors from losing their funds. About 705,396 depositors of distressed or collapsed microfinance companies and rural and community banks (RCBs) risk losing a total of GH¢740.5…