MICROFINANCE REGULATION IN GHANA:

LESSONS LEARNT

https://doi.org/10.47963/ucclj.v4i1.1546

Authors

  • Prof James Atta Peprah University of Cape Coast
  • Ewura-Adwoa Ewusie University of Cape Coast
  • Ebenezer Quartey Micro-credit Association of Ghana

Keywords:

Microfinance regulation, Ghana, Financial services, Bank of Ghana, Microfinance institutions

Abstract

A well-functioning and regulated financial system is vital for businesses, consumers and the economy. Therefore, regulating microfinance activities is crucial to ensure institutional sustainability and customer protection. We explore the consequences of microfinance regulation in Ghana using the desk review approach to document lessons that could be learnt. Our preliminary findings suggest that there are some learning opportunities. These are regulatory methodology mismatch, mission drift tension, and the collapse of potentially rescuable institutions. Additional lessons include a need for better governance, implementation of complementary laws and inadequate regulatory capacity. The paper offers policy recommendations for future regulatory architecture and design.

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Author Biographies

Prof James Atta Peprah, University of Cape Coast

Professor of Economics and Finance
School of Economics
University of Cape Coast

Ewura-Adwoa Ewusie, University of Cape Coast

Lecturer
School of Economics
University of Cape Coast

 

Ebenezer Quartey, Micro-credit Association of Ghana

Executive Director
Micro-credit Association of Ghana.

Published

2024-07-01

How to Cite

Peprah, J. A. ., Ewusie, E.-A. ., & Quartey, E. Q. (2024). MICROFINANCE REGULATION IN GHANA: : LESSONS LEARNT. UCC Law Journal, 4(1), 21–41. https://doi.org/10.47963/ucclj.v4i1.1546