Operations of microfinance must be properly cut out – Expert

Operations of microfinance must be properly cut out – Expert
Source: Ghana | Philip Nanfuri | JoyBusiness
Date: 12-04-2019 Time: 08:04:27:pm
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Microfinance experts are calling for a number of measures that should be taken in the wake of impending reforms in the sector.

Roderick Ayeh, a Microfinance Consultant and Akorfa Ahiafor, the Managing Director of Jireh Microfinance speaking on the Business edition of PM EXPRESS on the JoyNews channel Thursday believe there are some key decisions that need to be taken to ensure the sector is robust such as a fund for institutions to access which will reduce their cost of mobilizing funds for lending.

The Governor of the Bank of Ghana at the recent Monetary Policy Committee press conference said the clean-up of the microfinance sector is going to start in the second quarter of this year.

According to Dr Ernest Addison, the clean-up is expected to cost about GH¢700m.

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