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Financial Sector BoG closes down 'Wyselink Microfinance' for operating with a fake license

A statement released by the Bank of Ghana said “The Offices of Wyselink Microfinance Limited were located in Takoradi, Assin Fosu, Ofankor and Dobro.”

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The Bank of Ghana (BoG) has warned the general public to desist from doing business with Wyselink Microfinance since it is not licensed to take deposits.

In a statement released by the Central Bank, it stated that “Wyselink Microfinance Limited was operating with a forged Bank of Ghana licence number 000267 purported to have been issued on 30th October 2013, as well as a Certificate of Incorporation and Certificate to Commence Business, both issued on 20th March 2009.”

“The Offices of Wyselink Microfinance Limited were located in Takoradi, Assin Fosu, Ofankor and Dobro.”

READ ALSO: Ghana lost over $900M in oil royalties, taxes – Think Tank

Meanwhile, the Takoradi-based company has since been closed down.

Read the full statement below.

UNLICENSED DEPOSIT-TAKING ENTITY - WYSELINK MICROFINANCE LIMITED

The Bank of Ghana wishes to inform the general public of the activities of an entity, named Wyselink Microfinance Limited, which was engaged in deposit-taking, without a licence from the Bank of Ghana.

Wyselink Microfinance Limited was operating with a forged Bank of Ghana licence number 000267 purported to have been issued on 30th October 2013, as well as a Certificate of Incorporation and Certificate to Commence Business, both issued on 20th March 2009.

READ ALSO: Local businesses are the worst culprits in repaying loans

The operations of the entity have since been closed down and the Bank of Ghana has reported the matter to the Ghana Police Service. The operators are assisting the Police with their investigations.

The Offices of Wyselink Microfinance Limited were located in Takoradi, Assin Fosu, Ofankor and Dobro. 

The owner of Wyselink Microfinance Limited is Rev. Eric Nhyira Baafi. Other key officers of the entity are Messrs Isaac Fiifi Morgan, Director, Mr Eugene Amankwah Asante, Operations Manager and Mr Michael Annan, Head of Accounts.   Wyselink Microfinance Limited is NOT LICENSED to engage in microfinance business.  Hence, anyone who does business with Wyselink Microfinance Limited does so at his or her own risk and the Bank of Ghana will not be liable for the refund of any deposit lost by a depositor.

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