Audio By Carbonatix
Microfinance companies required to meet a minimum capital of ¢2 million by close of Friday, February 28, 2020.
Some institutions say they cannot raise the required amount.
JoyNews’ Nancy Emefa Dzradosi during a visit to NDL micro-credit Limited in Teshie, discovered that the establishment is likely to be shut down since it has not raised even half of the amount set by the Central Bank.
Meanwhile, customers are terrified of a possible shut down since the absence of the company will take a toll on their livelihood.
“My car broke down at Keta and I had to leave it there because I didn’t have money to fix it, this company gave me money as soon as I request and I went back to fix my car,” one customer recounted.
Another was of the view that: “We are all sad because if today, they [BoG] shuts down this company we do not know what we will do. Because they help me a lot and I am scared that if they should shut it, I will go through a lot of hardships.”
Watch the full report below:
Latest Stories
-
Ghana begins review of 1999 National Land Policy, targets new framework by 2027
19 minutes -
Tiptoe Lane’s tech takeover: The story behind Ghana’s booming informal phone market
2 hours -
Abanga vows to use social media to counter NDC messaging ahead of 2028 elections
2 hours -
Okai Mintah seeks Sabah Zita Benson’s support for NDC National Youth Organiser bid
2 hours -
Okai Mintah vows to strengthen NDC campaign machinery ahead of 2028
2 hours -
Mother of four and Jasikan teacher among new Telecel M’ahitti Promo winners
2 hours -
International Youth Shakers Conclave 2026 set to bring global young leaders to London
2 hours -
Gov’t is committed to addressing teachers’ conditions of service, deprived-area allowance – Education Minister
2 hours -
GoldBod’s structure encouraging galamsey – Afenyo-Markin
2 hours -
Tullow starts selling Jubilee, TEN crude to Ghanaian refineries
2 hours -
Local Government Service authorises rationalisation, redistribution of staff
2 hours -
PURC assures consumers of working to ensure quality services in Northern Region
2 hours -
Ghana develops US$4.28bn water financing framework
2 hours -
Christian Council calls for protection of mission schools’ religious identity
3 hours -
Mahama holds discussions with India’s External Affairs Minister
3 hours