Operational
and liquidity challenges, over the past three years, led to the collapse of some
companies and depositors losing their funds.
The
Ghana Association of Microfinance Companies (GAMC) however says there is
stability in the microfinance industry, though the storm has not finally
settled.
“In
our records 2014, we wouldn’t say we even lost a company and so we can say that
we closed the year very well,” observed Collins Amponsah-Mensah, National
Chairman of GAMC.
The
turbulent period of 2012 and 2013 left over 60 firms collapsing.
GAMC
has therefore been working with the Bank of Ghana to facilitate a recovery
process.
Mr.
Amponsah-Mensah told LuvBiz that 2015 will be a year of consolidation in
training and capacity building, strengthening of institutional structures as
well as encouraging share floatation, mergers and acquisitions.
The
proposed establishment of a deposit security insurance scheme is also expected
to protect the saving public against losing their funds in times when financial
intermediaries go into distress.
Story
by Kofi Adu Domfeh
No comments:
Post a Comment