A statement from the bank noted that the institutions whose licences were revoked were either insolvent or had ceased operations.
Here’s a full list of microfinance companies whose licences were revoked by the Bank of Ghana
On Friday, the Bank of Ghana (BoG) revoked the licences of some 347 microfinance companies.
Bank of Ghana
The statement further explained that new measures have been put in place to ensure that existing institutions remain structurally and administratively safe enough to continue with their businesses by complying with the rules.
The Governor of the BoG, Dr Ernest Addison noted that most microfinance companies in Ghana were in crisis hence the BoG needed about GHc 7 billion to fully clean-up the sector.
About 705,396 depositors of distressed or collapsed microfinance companies and rural and community banks (RCBs) risked losing some GHC740.5 million without some form of intervention.
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The BoG, however, noted that a total number of 137 microfinance companies will continue to operate.
Here’s a list of microfinance companies whose licences were revoked by the BoG
Microfinance Companies – Insolvent
1.1st Eye Microfinance Company Limited
2. Abepa Microfinance Limited
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3. Acea Microfinance Co. Limited
4. Adom Sika Microfinance Limited
5. Advalue Microfinance Limited
6. Ae Microfinance Company Limited
7. Af Microfinance Company Limited
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8. Afrique Capital Microfinance Limited
9. Akad Microfinance Limited
10. Aki Microfinance Company Limited
11. All Ghana Microfinance Limited
12. All Inclusive Microfinance Limited
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13. Alliancetrust Microfinance Limited
14. Amisgold Microfinance Services Limited
15. A-N Microfinance Services Limited
16. A-One Trust Microfinance Services Limited
17. Appiaduman Microfinance Limited
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18. Aspet-A Microfinance Limited
19. A-Star Microfinance Limited
20. Axis Direct Microfinance Company Limited
21. Benkoson Microfinance Limited
22. Best Microfinance Services Limited
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23. Bluehills Microfinance Limited
24. Boafo Ne Nyame Microfinance Limited
25. Bodev Microfinance Limited
26. Boin Microfinance Limited
27. Bonamax Microfinance Company Limited
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28. Brite Life Microfinance Limited
29. Broadview Capital Microfinance Limited
30. Capital and More Microfinance Company Limited
31. Capital Connect Microfinance Limited
32. Cash Multitrust Microfinance Limited
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33. Cashphase Microfinance Company Limited
34. Cashplus Microfinance Limited
35. Christian Community Microfinance Limited
36. Citizen Capital Microfinance Limited
37. City Credit Microfinance Limited
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38. Connect Capital Microfinance Limited
39. Cottage Microfinance Limited
40. Credability Investment and Microfinance Limited
41. Crown Capital Microfinance Limited
42. Crown House Microfinance Limited
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43. Cymain Capital Microfinance Limited
44. Cypress Microfinance Company Limited
45. Dahinsheli Microfinance Limited
46. Daily Capital Microfinance Limited
47. Datacash Microfinance Limited
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48. Dbm Microfinance Limited
49. Delight Microfinance Company Limited
50. Des Microfinance Limited
51. Dolphin Microfinance Services Limited
52. Donewealth Microfinance Limited
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53. Dove Microfinance Company Limited
54. Dpf Microfinance Limited
55. D-Vanc Microfinance Limited
56. Dwetire Microfinance Limited
57. Easyfast Microfinance Limited
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58. Ebenezer Microfinance Company Limited
59. Eclipse Microfinance Limited
60. Emefs Microfinance Limited
61. Emeralf Microfinance Limited
62. Emerge Microfinance Limited
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63. Emeton Microfinance Services Limited
64. Empire Credit Microfinance Limited
65. Emwl Microfinance Company Limited
66. Et Microfinance Limited
67. Evergreen Microfinance Limited
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68. Expressway Microfinance Limited
69. Fast Track Capital Microfinance Limited
70. Financial Republic Microfinance Company Limited
71. Fino Microfinance Limited
72. First Call Microfinance Company Limited
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73. First Liberty Microfinance Limited
74. Fountaingate Microfinance Limited
75. Frontier Capital Microfinance Limited
76. Frontline Microfinance Limited
77. Fts Capital Microfinance Limited
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78. Future Leaders Microfinance Limited
79. Gab Microfinance Limited
80. Gad Microfinance Limited
81. Galaxy Microfinance Limited
82. Geo Multi Microfinance Limited
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83. Gg Credit Microfinance Company Limited
84. Ghabsy Microfinance Limited
85. Giant Steps Microfinance Services Limited
86. Global Feed Microfinance Limited
87. Global Trust Microfinance Services Limited
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88. God Is Perfect Microfinance Limited
89. Goldman Capital Microfinance Co. Limited
90. Great Nation Microfinance Limited
91. Greenfield Microfinance Services Limited
92. Hegis Microfinance Limited
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93. Heritage Microfinance Limited
94. Hodidi Microfinance Company Limited
95. Home Support and Allied Microfinance Limited
96. Idos Microfinance Limited
97. Integrity Capital Microfinance Limited
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98. Jcf Consumer Microfinance Limited
99. Jdc Microfinance Company Limited
100. Jefam Microfinance Company Limited
101. Jidai Microfinance Limited
102. Jw Microfinance Limited
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103. Kingdave Microfinance Limited
104. Kingsbridge Microfinance Limited
105. Kka Empire Microfinance Limited
106. Kwahu Microfinance Company Limited
107. Lake View Microfinance Limited
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108. Legend Microfinance Co. Limited
109. Liberty Dmi Microfinance Limited
110. Liberty Trust Microfinance Limited
111. Lj Cashplus Microfinance Limited
112. Lloyds Capital Microfinance Limited
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113. Mace Microfinance Limited
114. Masadar Microfinance Limited
115. Melbond Microfinance Limited
116. Meridian Microfinance Limited
117. Micaid Microfinance Company Limited
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118. Mop Microfinance Limited
119. Multi Money Microfinance Company Limited
120. Multibility Microfinance Limited
121. Nas Microfinance Company Limited
122. Nationwide Microfinance Limited
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123. New Business Microfinance Limited
124. New Image Microfinance Limited
125. New Ways Microfinance Limited
126. Nkosuo Microfinance Limited
127. 1 Microfinance Company Limited
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128. Ofs Microfinance Company Limited
129. Optimal Microfinance Limited
130. Osomufo Microfinance Limited
131. Oval Microfinance Limited
132. Paragon Microfinance Company Limited
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133. Pathway Microfinance Limited
134. Pearlhouse Ghana Microfinance Limited
135. Peesam Microfinance Limited
136. Perebrim Microfinance Company Limited
137. Planet Microfinance Limited
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138. Planters Capital Microfinance Company Limited
139. Prime Guaranty Fsl Microfinance Limited
140. Primecredit Microfinance Limited
141. Primus Microfinance Limited
142. Prof Microfinance Limited
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143. Progressive Microfinance Company Limited
144. Pronto Microfinance Limited
145. Proseed Microfinance Company Limited
146. Purpose Microfinance Limited
147. Q-Star Investments & Microfinance Limited
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148. R&J Gateway Microfinance Services Limited
149. Rancare Microfinance Limited
150. Redeemer Microfinance Limited
151. Renaizance Capital Solutions Microfinance Limited
152. Reob Fekams Microfinance Company Limited
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153. Rightway Microfinance Limited
154. Rivers Capital Microfinance Limited
155. Ropa Microfinance Limited
156. Ross Capital Microfinance Limited
157. Royal Steps Microfinance Limited
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158. Royalty Capital Microfinance Limited
159. Safenet Microfinance Limited
160. Samag Microfinance Limited
161. Savannah Microfinance Limited
162. Savplus Microfinance Services Limited
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163. Silver Trust Microfinance Company Limited
164. Solid Rock Microfinance Limited
165. Solutions Microfinance Limited
166. Sources Unlimited Microfinance Limited
167. Sovereign Microfinance Limited
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168. Standard Trust Microfinance Limited
169. Star Alliance Microfinance Limited
170. Starling Microfinance Services Limited
171. Startwell Microfinance Company Limited
172. Supreme Trust Microfinance Limited
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173. The Orange Capital Microfinance
174. The Rashards Microfinance Limited
175. The Trustline Microfinance Company Limited
176. Ti Microfinance Limited
177. Total Discount Microfinance Limited
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178. True Life Capital Microfinance Limited
179. Trust Link Microfinance Limited
180. Trust Microfinance Company Limited
181. Turnstar Microfinance Limited
182. Unik Life Microfinance Limited
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183. Unique Microfinance Limited
184. Unique-Mas Microfinance Company Limited
185. Vision Credit Microfinance Limited
186. Voa Microfinance Limited
187. We Enable Microfinance Limited
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188. Wintrust Microfinance Limited
189. Wondaland Microfinance Limited
190. Yan Microfinance Company Limited
191. Yeken Microfinance Limited
192. Yoli Microfinance Company Limited
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Microfinance Companies – Insolvent and Ceased Operations
193. 72 Hours Microfinance Company Limited
194. Abis Plus Microfinance Limited
195. Acit Capital Microfinance Limited
196. Adwenpa Microfinance Limited
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197. Adwumaden Microfinance Limited
198. African Trust Microfinance Limited
199. Ag Microfinance Limited
200. Agt Microfinance Company Limited
201. Allot Microfinance Company Limited
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202. Arhinpa Microfinance Limited
203. Attention Microfinance Limited
204. Av Global Microfinance Limited
205. Beaconcity Microfinance Company Limited
206. Bedel Microfinance Limited
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207. Bengay Microfinance Company Limited
208. Better Life Microfinance Company Limited
209. Big Dreams Microfinance Limited
210. Bik Microfinance Company Limited
211. Boatem Microfinance Limited
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212. Boavole Microfinance Limited
213. Brisk Credit Microfinance Limited
214. C.I.G. Microfinance Limited
215. Capital House Microfinance Limited
216. Capital Line Microfinance Limited
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217. Captains Microfinance Company Limited
218. Casablanca Microfinance Limited
219. Cashbridge Microfinance Limited
220. Cc Microfinance Limited
221. Citizens Resource Microfinance Limited
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222. Comaid Microfinance Limited
223. Comba Microfinance Limited
224. Common Capital Microfinance Limited
225. Community Microfinance Limited
226. Crucial Times Microfinance Limited
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227. Cypress Cedar Microfinance Company Limited
228. Daa Nhyira Microfinance Company Limited
229. Dc Microfinance Company Limited
230. Dems Microfinance Company Limited
231. Dg Capital Microfinance Limited
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232. Divine Fortunes Microfinance Limited
233. Divine Microfinance Limited
234. Dwadifo Adanfo Microfinance Company Limited
235. Dynasty Microfinance Services Limited
236. Eden Microfinance Limited
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237. Ekoba Get Rich Microfinance Limited
238. Elite Microfinance Limited
239. Ellis Microfinance Limited
240. Era Microfinance Services Limited
241. Excel United Microfinance Limited
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242. First Fidelity Microfinance Limited
243. Flexi Microfinance Limited
244. Focus Link Microfinance Company Limited
245. Fortress Microfinance Company Limited
246. Frankaman Microfinance Company Limited
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247. Giant Gait Microfinance Limited
248. G-Life Microfinance Limited
249. Global One Microfinance Company Limited
250. Gmet Microfinance Limited
251. Godigo Microfinance Limited
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252. Golden Trust Microfinance Company Limited
253. Goldpot Microfinance Limited
254. Goodnews Microfinance Company Limited
255. Halal Microfinance Limited
256. High Prestige Microfinance Services Limited
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257. Hog Microfinance Limited
258. Ics Microfinance Limited
259. Ik Microfinance Limited
260. Instant Microfinance Limited
261. Investsure Microfinance Limited
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262. Jada Microfinance Limited
263. Jays Microfinance Limited
264. Jopat Microfinance Company Limited
265. Jorbies Microfinance Limited
266. Joyhelp Microfinance Limited
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267. Joyprin Microfinance Company Limited
268. K. A. D. Microfinance Limited
269. Kanafin Microfinance Services Limited
270. Kapital Express Microfinance Company Limited
271. Karsi Microfinance Limited
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272. Kenlasab Microfinance Limited
273. Kingdom Trust Microfinance Limited
274. Landmark Microfinance Limited
275. Last Chance Microfinance Company Limited
276. Latter Rain Microfinance Limited
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277. Lead Capital Microfinance Limited
278. Lead Global Microfinance Limited
279. Leap Credit Microfinance Limited
280. Light Microfinance Limited
281. Liquidity Solutions Microfinance Limited
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282. Liyac Microfinance Company Limited
283. Loyal Shepherd Microfinance Limited
284. Mallon Microfinance Company Limited
285. Man Capital Microfinance Company Limited
286. Mars Microfinance Limited
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287. Megamitch Microfinance Limited
288. Micrene Microfinance Limited
289. Mighty Microfinance Limited
290. Mokap Microfinance Limited.
291. Moneyshop Microfinance Limited
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292. Moore Naara Microfinance Limited
293. Mt Microfinance Limited
294. Nativity Microfinance Services Limited
295. Niva Microfinance Limited
296. Noble Dream Microfinance Limited
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297. Obaatanpa Microfinance Company Limited
298. Obuoba Microfinance Company Limited
299. Oye Microfinance Limited
300. Panam Microfinance Company Limited
301. Pimcel Microfinance Company Limited
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302. Pinnacle Microfinance Limited
303. Platinum Capital Microfinance Limited
304. Premier Microfinance Limited
305. Price Capital Microfinance Limited
306. Profit Point Microfinance Limited
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307. Pro-Link Microfinance Limited
308. Prudence Microfinance Limited
309. Purple Microfinance Limited
310. Qodesh Microfinance Limited
311. Quick One Microfinance Limited
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312. Reell Microfinance Limited
313. Restore Microfinance Company Limited
314. Rhokida Microfinance Limited
315. Royal Future Microfinance Limited
316.Sag Ave Maria Microfinance Company Limited
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317. Say-Adsam Microfinance Limited
318. Seedshare Capital Microfinance Limited
319. Shalom Microfinance Company Limited
320. Shine Credit Microfinance Limited
321. Sica Microfinance Limited
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322 Silban Capital Microfinance Limited
323. Sim Microfinance Limited
324. Skycredit Microfinance Limited
325. Skyy Creditline Microfinance Limited
326. Solution Pioneers Microfinance Company Limited
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327. Ss Microfinance Limited
328. Ss Stacots Microfinance Company Limited
329. St. Mary’s Microfinance Limited
330. Stalwart Microfinance Services Limited
331. Star Plus Microfinance Limited
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332. Star Wealth Microfinance Limited
333. Strategies Microfinance Services Limited
334. Sweet Jesus Microfinance Limited
335. Tbs Capital Microfinance Limited
336. The Informal Project Microfinance CompanyLimited
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337. Tipping Point Microfinance Limited
338. Trans Microfinance Limited
339. Turning Point Microfinance Company Limited
340. Unicorn Happy Investment Microfinance Limited
341. V-Seed Microfinance Services Limited
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342. Waxson Microfinance Company Limited
343. Western Allied Microfinance Limited
344. Wetland Microfinance Limited
345. Wimac Trust Microfinance Limited
346. Wiselink Microfinance Company Limited
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347. Xerox Microfinance Services Limited
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