The Ghanaian arm of MicroEnsure UK, a microinsurance intermediary and subsidiary of US-based nonprofit Opportunity International, recently unveiled Edusave, a savings-linked life insurance and education finance product.
Search Results for: Ghana
MICROCAPITAL BRIEF: Bank of Ghana Warns of False Advertising by Microfinance Institutions Medlorm Microfinance, African Guarantee Trust, AbbeyCash Microfinance, Swift Financial Services
The Bank of Ghana (BOG), the regulatory and supervisory body with authority over financial institutions in the country, is warning customers of the following Ghanaian microfinance institutions (MFIs) falsely claiming to be licensed by BOG in Ghana: Medlorm Microfinance Limited, African Guarantee Trust, AbbeyCash Microfinance Limited and Swift Financial Services.
MICROCAPITAL BRIEF: Bank of Ghana Grants Final License to 90 Financial Institutions
Ninety financial institutions in Ghana recently received their final operating licenses from the Bank of Ghana (BOG), the country’s central bank.
MICROCAPITAL BRIEF: Odotobri Rural Bank of Ghana Opens 7th Branch, to Introduce ATMs, Mobile Banking Services
Odotobri Rural Bank Limited, a publicly traded bank in Ghana, reportedly has opened its seventh branch in the Ghanaian city of Kumasi.
MICROCAPITAL BRIEF: ProCredit Ghana Sounds Alarm on Multiple Lending, Calls for Tighter Entry Requirements for Microfinance Institutions (MFIs)
Mrs Sarah Tsien Zetterli, Managing Director of ProCredit Savings and Loan Company of Ghana, reportedly stated recently that the microfinance market in Ghana has become overcrowded and that tighter entry requirements for microfinance institutions (MFIs) must be established by the Bank of Ghana.
MICROFINANCE EVENT: Hanson Wade Presents “Investment & Innovation in Microfinance: Africa”, September 19 – 20, 2012, Accra, Ghana
Event Name: Investment & Innovation in Microfinance: Africa
Event Date: September 19 to September 20, 2012
Event Location: Accra, Ghana
MICROCAPITAL BRIEF: 300 Susu Collectors in Ghana Submit to Regulated Microfinance Regime
The Ghana Cooperative Susu Collectors Association (GCSCA), an umbrella organization of regional cooperatives of susu collectors in Ghana, has announced that 300 of its susu collector members have submitted applications under the new rules and requirements for microfinance licensing under the Bank of Ghana (BOG) [1, 2]. Traditional susu collectors serve predominantly low-income earners with access to savings and credit services.
MICROFINANCE PUBLICATION ROUND-UP: Impact of Property Insurance in Ghana; Priority Issues for the Microfinance Sector; Investment in Sub-Saharan Africa
“’Doing the Math’ with Property Insurance in Ghana;” by Barbara Magnoni, et al; published by the Microinsurance Centre; May 2012; 9 pages; available at: http://www.microinsurancecentre.org/milk-project/milk-docs/doc_details/868-milk-brief-10-qdoing-the-mathq-with-property-insurance-in-ghana.html
MICROCAPITAL BRIEF: Invest Africa Launches Website Allowing Individuals to Loan $25 or More to Micro- and Small Enterprises in Benin, Ghana, South Africa
Invest Africa, a micro venture capital platform, recently launched a website to allow individuals to loan money to micro- and small-scale entrepreneurs in Africa.
MICROFINANCE PAPER WRAP-UP: “Perceptions of (Micro)Insurance in Southern Ghana: The Role of Information and Peer Effects;” by Lena Giesbert and Susan Steiner, published by DIW Berlin
By Lena Giesbert and Susan Steiner, published by Deutsches Institut fur Wirtschaftsforschung (DIW Berlin), 2012, 33 pages, available at: http://www.diw.de/documents/publikationen/73/diw_01.c.394251.de/dp1194.pdf
MICROCAPITAL BRIEF: LeapFrog Acquires Majority Stake in Ghana’s Express Life Insurance For $5.5m
LeapFrog Investments, a microinsurance equity fund based in Mauritius, recently acquired a majority stake in Ghana’s Express Life Insurance Company at the cost of USD 5.5 million.
MICROCAPITAL BRIEF: National Insurance Commission (NIC) of Ghana Targets 10% Microinsurance Penetration in Three Years
The National Insurance Commission (NIC) of Ghana, the regulatory authority for the country’s insurance industry, reportedly has announced a goal to increase penetration of the microinsurance market from the current 1 percent of the population to ten percent within three years.
MICROCAPITAL BRIEF: Bank of Ghana (BoG) Expected to Shut Down Unlicensed Microfinance Institutions MEDLORM Microfinance Limited, African Guarantee Trust, Abbey Cash Microfinance Limited, Swift Financial Services
The Bank of Ghana (BoG), Ghana’s central bank authority, reportedly is expected to halt the operations of four unlicensed microfinance institutions (MFIs): MEDLORM Microfinance Limited, African Guarantee Trust, Abbey Cash Microfinance Limited and Swift Financial Services.
MICROCAPITAL BRIEF: National Insurance Commission (NIC) of Ghana Anticipates New Microinsurance Law
Ghana’s National Insurance Commission (NIC), the regulatory authority for the country’s insurance industry, reportedly has announced that a new national insurance law incorporating microinsurance will be passed sometime during 2012.
MICROCAPITAL BRIEF: Airtel, UT Bank Launch Mobile Savings Product FONBank in Ghana
Ghana-based UT Bank and the local branch of telecommunications firm Airtel reportedly will release UT FONBank, a mobile savings product.
MICROCAPITAL BRIEF: Mobile Handset Initiated Transactions (mHITs) of Australia Expands Remittance Service to Ghana
Australian micropayment service provider Mobile Handset Initiated Transactions (mHITs) has reportedly announced that it has added “an international mobile remittance corridor” that allows account holders to send funds to mobile wallet users in Ghana.
MICROCAPITAL BRIEF: Bank of Ghana (BOG) Pursues Tighter Regulation, Enforcement of Microfinance Sector
The Bank of Ghana (BOG) reportedly has called on microfinance institutions (MFIs) to apply for operational licenses and operate by national bank rules.
MICROCAPITAL BRIEF: Bank of Ghana (BOG) Receives 300 Microfinance License Applications
The Bank of Ghana (BOG) reportedly has received approximately 300 applications “from firms seeking to operate under the second tier of the regulated microfinance institutions.”