BoG Increases Minimum Capital For Micro Finance Institutions This Month

The Bank of Ghana will by the end of this month increase the capital requirement for micro finance institutions which currently stands at GH¢ 500,000.00. 

This is part of measures to cut down on the springing up of mushroom financial institutions. 

The governor of the Bank of Ghana, Dr Henry Kofi Wampah, who disclosed this, added that names of illegal operators have also been published in other to inform the public on which financial institutions they can deal with.

He said currently the bank is also embarking on an educational tour to sensitize the public.

GBC