Year: 2019

GOVERNOR

Banking Sector Profitable Now – Dr Ernest Addison

The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has revealed that the banking sector of the Ghanaian economy is now profitable after the central bank carried out the cleanup exercise. He said the banks that are operating now are conforming to best practices. “The banking is now profitable liquid and solvent owing […]

EOCO PICTURE

EOCO Grabs Adom Sika Microfinance Directors

Georgette Kusi-Boateng and Sam George Acquah Two Directors of Adom Sika Microfinance Limited have been arrested by the Economic and Organized Crime Office (EOCO) for their inability to render account on how depositors’ funds in excess of GH¢150 million were utilized. Sam George Acquah and Georgette Kusi-Boateng were grabbed last Wednesday and subsequently cautioned and […]

Bank of Ghana Governor

Bank Of Ghana Receiver Working To Pay Locked Funds Of Depositors Of MFIS – Deputy Governor

The first Deputy Governor of Bank of Ghana, Dr. Maxwell Opoku-Afari has assured the public that the Ministry of Finance, Bank of Ghana and the Receiver have reached an understanding to find a way to unlock funds belonging to Rural Community Banks (RCB) deposited with MFIs. According to him, discussions on modalities are ongoing and once finalized, it would be announced very soon.

microfinance grows up

Upward Review of Payments to Depositors whose claims have been validated

Press Release on 347 Micro Finance Companies (“MFCs”) whose licences were revoked on 31 May 2019 by Bank of Ghana Upward Review of Payments to Depositors whose claims have been validated Accra 8th November 2019.  Following the revocation of the licences of the 347 Micro Finance Companies (“MFCs”), the Receiver among other things announced a […]

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Upward Review of Payments to Depositors whose claims have been validated, Saving and Loan

Press Release on the 23 Savings & Loans Companies (“S&Ls”) whose licences were revoked by Bank of Ghana on 16 August 2019 Upward Review of Payments to Depositors whose claims have been validated Accra 8th November 2019.  Following the revocation of the licences of the 23 Savings & Loans Companies (“S&Ls”), the Receiver among other […]

micro

96 branches of the 347 microfinance companies placed into receivership remain open for receivership business

96 branches of the 347 microfinance companies placed into receivership remain open for receivership business GREATER ACCRA No. Branches of Microfinance Companies to be maintained Location of Maintained Branch Region   GREATER ACCRA REGION     1 ACEA Microfinance Co. Limited Opposite Amasaman Community Hospital, Amasaman Greater Accra 2 Adom Sika Microfinance Limited 52 Mango […]

GOVERNOR

Notice of Revocation

Accra, Ghana, May 31, 2019 – The Bank of Ghana has, with effect from today, revoked the licences of 192 insolvent microfinance companies (see attached list). In addition, licences of another 155 insolvent microfinance companies that have ceased operations (see attached list) have been revoked.