Ghana Revokes Licenses of 347 Insolvent Microfinance Companies
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The Bank of Ghana revoked the licenses of 347 insolvent micro-finance firms after the conclusion of a cleanup of the banking sector.
It cancelled the permits of 192 firms currently in operation in addition to 155 that have ceased operations, the Accra-based regulator said in emailed statement. The regulator also annulled the licenses of 39 insolvent micro-credit companies, it said in a separate statement.