MCAG URGED TO ADHERE TO REGULATOR’S DIRECTIVES
AFIA NYARKO ASARE
Members of the Micro Credit Association Ghana (MCAG), have been urged to maintain tactful Corporate Governance principles and also adhere to the regulators directives.
The Officer in Charge of Other Financial Institutions Supervision Department for the Bank of Ghana, Mr. Otabil explained that shortfalls of some Micro Credits in the past what led to the revocation of licenses of thirty nine (39) Micro Credit institutions in Ghana.
He was speaking at the 10th Anniversary and Annual General Meeting of MCAG that was held at the Capital View Hotel in the Eastern Region.
Mr. Otabil emphasized that formidable governance system preserves and ensures resilient Microfinance institutions.
The event is under the theme, “A decade of Micro-Credit service in Ghana; achievements, challenges and prospects” seeks amongst other things to deliberate on how best to incorporate innovations and enhance customer experience and marque loyalty.
Its brought together members of Micro Credit institutions across the country, stakeholders, regulators and the media to dialogue, render accounts for the financial year and conduct elections to elect new Board members.