The primary objective of microfinance is to create financial inclusiveness and provide an avenue for the delivery of essential financial services to sections of the society who would otherwise be largely uninvolved or unable to fully access them. Ghana’s microfinance sector has been immensely beneficial to the economy. It has expanded the scope of participation … Read more
By Roderick Okoampah Ayeh The Microfinance industry in Ghana has gone through some notable phases; influx of microfinance companies, regulation, collapse, scam, etc. These happenings seem to have impacted the industry in diverse ways. The scams and how there were handled, regulatory strengthening, regulator role and the role of microfinance apex bodies within the microfinance … Read more
The Bank of Ghana (BOG) has warned the general public, especially those living in Sunyani in the Brong Ahafo region, against do business with Agro Development Fund Services Limited (A. D.F. Services Ltd.) operating as a microfinance company. According to the central bank, Agro Development Fund Services Limited (A.D.F. Services Ltd.) has not been licensed … Read more
The Central Bank, in collaboration with other partners is set to enroll all microfinance institutions unto a single software by close of the year to ensure transparency in the management of data in the sector. The move, according to the Head of the Microfinance Examinations Office of the BoG, Patience Yeboah-Nkansah, is to ensure that … Read more
“… Things are never as complicated as they seem. It is only our arrogance that prompts us to find unnecessary complicated answers to simple problems.” The preceding words by Professor Muhammed Yunus, a nobel laureate and the originator of the microfinance concept, could not have been more sensible. More often than not the solution to … Read more