The intensity at which micro finance companies in Ghana are
experiencing serious financial challenges has called for reviewing portions of the regulations covering the micro
finance sector to deal with bankruptcy reports in the sector. In an interview
with Pravda business news Chief Executive Officer of universal micro finance
institute Kofi Amofah Fofie urged authorities of the banking sector to
strengthen the already existing policy? The Bank of Ghana is reviewing portions
of the regulations covering the micro finance sector. Key among this is the 100
thousand minimum capital requirements for micro-finance companies which are to
be increased.
Meanwhile a
financial consultant Kojo Akpabi says tightening regulations at the micro
finance sector will prevent traders from accessing it.
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