Tag: Microfinance sector cleanup
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Bank of Ghana considers review of minimum capital for MFIs
The Bank of Ghana (BoG) has said is considering a review of the minimum capital requirement for microfinance companies after it revoked the licences of more than 70 percent of them. The BoG, in a press release last Friday, notified the public of closure of 347 microfinance companies across the country – citing various…
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BoG ‘s clean-up is wake up call to our members — Microfinance umbrella body
The Executive Director of the Ghana Microfinance Institutions Network, Yaw Gyamfi, has stated that the Bank of Ghana’s recent revocation of the licenses of 347 microfinance organisations is a wakeup call especially to the outstanding 137 companies that survived the clean-up. Mr. Gyamfi speaking on the Citi Breakfast Show on Tuesday stated that there is…