Ghana closes 72% of its microfinance firms


The Bank of Ghana has revoked the licences of 347 microfinance firms due to insolvency, closing nearly three-quarters of the industry.

In a statement released on May 31, the central bank said it had revoked the licences of 192 insolvent microfinance companies and another 155 insolvent microfinance firms that had already ceased operations. This represents 72% of all microfinance firms in Ghana.

The intention is “to get rid of insolvent and dormant institutions that have no reasonable prospects

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: