Bank of Ghana BOG opens Brong-Ahafo office under interesting circumstances

The Bank of Ghana has therefore, set up the new office to keep a keener eye on operations of microfinance companies in the region in order to forestall a recurrence of the situation.

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Bank of Ghana, in an attempt to intensify supervision on activities of Microfinance companies in the Brong-Ahafo region, has inaugurated a new office in the region.

This has been necessitated by the spate of microfinance fraud cases that have been recorded in the region over a year or two.

play Irate Customers of DKM Microfinance

 

All attention was on the Brong-Ahafo Region in 2015 and the early parts of 2016, when customer descended heavily on DKM Microfinance, Jasta Motors, God is Love Fun Club and others for squandering their deposits, running into hundreds of millions of Ghana Cedis.

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According to President John Dramani Mahama and the Finance Minister, Seth Terkper, DKM Microfinance alone had squandered about 77 million Ghana Cedis of the their customers’ deposits.

play Former Central Bank Governor Dr. Kofi Wampah

The Bank of Ghana has therefore, set up the new office to keep a keener eye on operations of microfinance companies in the region in order to forestall a recurrence of the situation.

Former Central Bank Governor Dr. Kofi Wampah under whose tenure the building was constructed, officially commissioned the ultra-modern edifice on June 30, 2016, under heavy securities as there were fears  of irate customers of the listed microfinance companies in the region attacking the ceremony.

play At The Opening Ceremony

 

The current Governor Dr Nasiru Issahaku and the second Deputy Governor, Dr. Johnson P. Asiama were at the commissioning event.

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