Bank of Ghana Clean-Up Leaves Only 137 Microfinance Companies in Good Standing
Ghana currently has 137 microfinance companies in good standing after about 347 of such institutions had their licenses revoked by the Bank of Ghana on Friday, May 31.
The central bank in a statement said the institutions whose licenses were revoked were either insolvent or had ceased operations.
The Bank of Ghana in the statement explained that new measures have been put in place to ensure that existing institutions remain structurally and administratively safe enough to continue with their businesses by complying with its regulations.
Photo courtesy of Paul.