Increase microfinance firms’ stated capital

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• Paa George 10 years ago

  I think every lobbyist or interest groups would find ways to prevent the government or lawmakers to act in favor of the people. What Mr Tandoh suggested by increasing the capital
  ¢100,00 to ¢500,000 for registering Microf ...
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  I think every lobbyist or interest groups would find ways to prevent the government or lawmakers to act in favor of the people. What Mr Tandoh suggested by increasing the capital
  ¢100,00 to ¢500,000 for registering Microfinaace businesses with Bank of Ghana would have been a good investment,but let ask ourselves is it easy for small businesses or entrepreneurs to come up with such huge amount of money?. What is necessary here, they need extra insurance over their businesses rather than giving more money to the Central Bank or BOG. We have to eliminate the BOG from this free enterprise market and let the investors and traders work their way out.Also, let the Security and Exchange Commission do their work as the policing in the market. If there are frauds or any unlawful acts or behaviors, the law would take it course or take the cases to the necessary court.

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• OGA yum yum 10 years ago

  bravo!1

  bravo!1

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• DAN 10 years ago

  Any bank or credit union in usa is insured(if legit) by the FDIC( federal deposit insurance corp) and credit union by --NCUA-- national credit union assoc....They should be audited..And if the fail sold to the competitors and ...
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  Any bank or credit union in usa is insured(if legit) by the FDIC( federal deposit insurance corp) and credit union by --NCUA-- national credit union assoc....They should be audited..And if the fail sold to the competitors and gov.( thru insurance fees payed by firms) should assume the bad debt!

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• Hugh Sinclair 10 years ago

  Increasing the capital requirements tempts MFIs to increase interest rates and fees to "compensate" for the increased capital requirements. This was a primary justification for charging extortionate interest rates to the poor ...
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  Increasing the capital requirements tempts MFIs to increase interest rates and fees to "compensate" for the increased capital requirements. This was a primary justification for charging extortionate interest rates to the poor in Nigeria. Raising capital requirments, or insurance (or both) is worth considering, but needs to be combined with broader, sensible regulations aimed at protecting the poor rather than enriching the bankers and their shareholders.

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• TK 10 years ago

  Increasing the minimum stated capital is needful in the industry but have we considered as a nation the impact it would have on the target market? Why not tighten the regulatory issues and policies. The various Apex bodies in ...
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  Increasing the minimum stated capital is needful in the industry but have we considered as a nation the impact it would have on the target market? Why not tighten the regulatory issues and policies. The various Apex bodies in the sector should be strengthened and given more supervisory roles and powers to oversee the activities of their members. Let us consider the role of MASLOC. It is supposed to be a micro finance apex body responsible for: (1)The co-ordination and facilitation of the activities of institutions and organizations in the micro-finance subsector of the economy; (2) Promoting and enhancing the development of a decentralized micro financial system; and (3)The Co-operation, collaboration and complementarities with other non-bank finance institutions in the operations of microfinance services.Are they living up to expectations? How can the ordinary Microfinance Institution compete with MASLOC, granting that they can give loans 24 percent per annum? Let's have more deliberations in the industry among the various players. We can make the industry better. Ghana needs this industry at this material moment.

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