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Former NPP Candidate Laments Financial Lock-down Amid Microfinance Sector Upheaval

A staunch NPP member who contested the Bekwai parliamentary seat and lost claims he has been neglected for the past five years, with his funds tied up in others’ pockets.

Speaking on Atinka FM’s Simpieso, hosted by Nana Owoahene Acheampong, Mr. Henry Opoku-Ware detailed his contributions to the microfinance sector, particularly his assistance to the Bank of Ghana in formulating regulatory laws.

“They once visited my office to commend my operations, stating I owed no one but should cease lending and focus on recovering outstanding loans,” he recounted. “However, I was shocked to later learn via social media that Hejis Microfinance’s license had been revoked in a courtroom proceeding.”

Opoku-Ware lamented the dire consequences faced by colleagues in the microfinance industry, some of whom had tragically passed away due to the fallout from regulatory actions.

“My funds remain inaccessible, and my attempts to seek legal recourse have been in vain,” he added.

In 2019, the Bank of Ghana revoked licenses of 192 insolvent microfinance companies and an additional 155 companies that had ceased operations.

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