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Bank of Ghana BOG releases list of accredited microfinance companies

The Bank of Ghana says the list  is to aid customers in making the right choice of financial institutions to do business with after a series of microfinance scandals rocked the financial sector, and also to improve the business of financial institutions who meet the required standards.

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Bank of Ghana

The Bank of Ghana has published a list of non-banking insurance companies who meet the required standards of the Central Bank.

The Bank of Ghana says the list  is to aid customers in making the right choice of financial institutions to do business with after a series of microfinance scandals rocked the financial sector, and also to improve the business of financial institutions who meet the required standards.

DKM Microfinance reportedly squandered close to GHC70 million of the deposits of their customers, while other microfinance companies such as God is Love and Jasta Motors diverted the deposits of their customers into other businesses that were not registered under the company.

A total of 385 microfinance companies made it onto the list, which has a total of 435 non-banking financial institutions with the remaining ten (10) being Financial NGOs.

 

Find below the full list of accredited non-banking micro finance companies in the country:

  Financial Company List.pdf 

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