MICROCAPITAL BRIEF: Ghana MicroFinance Institutions Network (GHAMFIN) Says Proposed Capitalization Requirements May Not Go Far Enough

The Ghana Microfinance Institutions Network (GHAMFIN), an informal network of institutions and individuals in the microfinance industry, recently expressed concern over the prevalence of unaccredited microfinance institutions (MFIs).

Although plans are under way to establish a recapitalization requirement, ordering accredited rural banks to have a minimum capital of GHS 1.5 million (USD 1 million) by December 2011, Mr David Andah, Executive Secretary of GHAMFIN, warned that these efforts could be hindered by the multitude of unaccredited MFIs.

By Stefanie Rubin, Research Associate

Additional Resources:

Source Article: Citifmonline: “Unaccredited Micro-Finance Institutions are Dangerous,” http://www.citifmonline.com/site/business/news/view/4329/3

Ghana MicroFinance Institutions Network (GHAMFIN): http://www.ghamfin.org/index.php

Browse the MicroCapital Universe and add your entry to our wiki at https://www.microcapital.org/microfinanceuniverse/

Similar Posts: