In accordance to the Bog, the Personal savings & Loans, rural and local community banking companies cleanup anticipated to price tag about GH¢6 billion
The Bank of Ghana about the earlier two decades has taken what some might describe as bold moves in the Banking and specialized deposit-using space.
Since August 2017 until day a whole of 9 banking companies and 386 microfinance and microcredit establishments have been collapsed.
These closures have substantially experienced an impression on the overall economy as work, organizations hanged in the harmony. Just one critical effect of this is the debt that has accumulated. As at March 2019 the resolution of the challenges in the fiscal sector have price tag us GHC 11 billion.
The most current is the microfinance and microcredit institutions. Now the awareness is going to change from that to the Price savings and Loans, Rural and Group Banking institutions and Finance Homes.
What does the Savings and Loans sector look like? Here is some data from the Ghana Affiliation of Price savings and Financial loans Organizations (GHASALC)
What classes can we master and how should really this be carried out? My visitors, Tweneboah Koduah Boakye, Govt Secretary of the Ghana Association of Financial savings and financial loans Organizations (GHASALC) and Executive Director, Ghana Microfinance Institutions Network( GHAMFIN), Yaw Gyamfi think panicking is not the way and all need to remain serene.
View video down below: