Bank of Ghana Taking Steps to Address Challenges in Microfinance Sector

Governor of Bank of Ghana, Dr. Ernest Addison

Accra, March 9, 2018//-The Bank of Ghana  (BoG) has assured the public that it is taking steps to address the recent  challenges in the country’s microfinance sector.

The Bank has been monitoring Microfinance Institutions (MFIs) through offsite surveillance and onsite examination, and also has held a number of meetings with the shareholders and management of the affected institutions, according to a statement issued and signed by the Secretary of BoG, Mrs Caroline Otoo.

It added: “Together with the Government, the Bank is working on a comprehensive reform program to address the challenges in the sector, and strengthen regulatory and supervisory oversight”.

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