Audio By Carbonatix
The Bank of Ghana is warning the public against dealing with 4 Microfinance Companies.The Companies are MEDLORM Microfinance Limited, African Guarantee Trust, Abbey Cash Microfinance Limited and Swift Financial Services.
The Central Bank says it has neither licensed any of these nor had any of them apply for a license. The Bank says members of the public who transact business with any of these four institutions therefore do so at their own peril.
Meanwhile, the Bank of Ghana is warning Microfinance Companies with provisional licenses to desist from advertising as if they have been fully sanctioned. So far, the Central Bank has granted 45 provisional licenses whilst other applications are still being processed.
The Bank is also requesting the Companies to stop using the Bank of Ghana’s licensing process as an advertising tool for their businesses.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
CSIR warns Ghana’s soil health is deteriorating, calls for urgent national action
7 minutes -
Two feared swept away after River Agyei overflows Kasoa–Domeabra road
10 minutes -
Tony Elumelu appointed chairman of Seplat Energy
23 minutes -
Education Minister raises alarm over indiscipline in SHSs, announces national reform conference
25 minutes -
Lom Ahlijah advocates tech-based monitoring in schools after assault case
29 minutes -
UTAG threatens nationwide strike over delay in book and research allowance rate
37 minutes -
Boundary Commission urges border residents to protect boundary pillars and support national security
40 minutes -
Ghana to grow at 5.0% GDP in 2026, but faces huge investment financing gap – AfDB
41 minutes -
Deputy AG, 14 CSOs appear at Supreme Court for hearing on challenge to OSP’s prosecutorial powers
46 minutes -
Minority MPs meet Ghana High Commissioner to Canada to discuss diaspora welfare and bilateral relations
55 minutes -
GNAT threatens WASSCE boycott over detained Nyinahin SHS teacher
1 hour -
Free SHS: Education Minister hails end of school food shortages
1 hour -
NLA Director-General calls for a concerted effort in fight against illegal gambling
1 hour -
74% of returned Ghanaians had overstayed visas – South Africa’s Int’l Relations Minister
1 hour -
Ghana’s National Vaccine Institute joins WHO-backed Global Clinical Trials Forum
1 hour