News

14TH ANNUAL GENERAL MEETING Date: Thursday, 30th October 2025 Time:     10:00 am Theme:  Scaling for Impact: Empowering Microfinance Companies to Drive Industry Growth Venue: Virtual Via Zoom Agenda: 1. To read the notice convening the meeting 2. To confirm the minutes of the 13th Annual General Meeting and discuss matters arising 3. To receive the Chairperson’s Report for 2024 4. To consider the accounts of the year ended 31st December 2024, the reports of the Directors and the Auditors thereon 5. To confirm the membership dues for 2026 6. A.O.B

The Ghana Microfinance Institutions Network (GHAMFIN) with support from The Financial Inclusion Advocacy Centre (FIAC) initiated the Non-Bank Financial Institutions Awards. It is an annual event in the non-banking financial institutions sector that seeks to recognize and celebrate the previous year’s best performing non-bank financial institutions in various categories. The third edition took place on Friday, 23rd August 2024 at Methodist Wesley Towers, Accra. Individuals who have made significant contributions to the growth of the microfinance sector were also acknowledged. The member companies awarded during the event are Central Microfinance, Baobab Microfinance, Success for People Microfinance, The Mint Microfinance, Maroon Capital Microfinance, West One Microfinance, FWF Microfinance and Leverage Microfinance.

Following earlier engagements on the selection process for Partner Financial Institutions (PFIs) under the initiative to develop need-based financial products for Micro, Small, and Medium-sized Enterprises (MSMEs), Solis Microfinance Ltd was selected after an assessment conducted by the project consultant to receive technical assistance to: Build capacity to develop new products or adapt existing product based on the needs of the MSMEs. Build capacity to enhance their ability to manage the products developed and promote its access to the targeted MSMEs.

As part of the Secretariat’s work plan, the Member Relations Manager undertook scheduled visits to member companies across the country. Between March and December 2024, visits were conducted to one (1) member in the Volta Region, four (4) members in the Eastern Region, six (6) members in the Central Region, five (5) members in the Western Region, one (1) member in the Northern Region, one (1) member in the Upper West Region, ten (10) members in the Ashanti Region, and sixty-three (63) members in the Greater Accra Region. In total, forty (40) members were not visited, as some institutions were non-operational while others were unavailable at the scheduled time of visitation. The objective of the visits was to engage member institutions on the progress of their operations, identify operational challenges and concerns, and solicit feedback on the activities of the Association. The exercise further sought to gather insights and recommendations[...]

The 13th Annual General Meeting was held via zoom on Thursday, 5th December 2024 under the theme ‘’The Path to Financial Sustainability: Ensuring Long-Term Viability of Microfinance Companies’’. The Special Guest of Honour, Mr. Yaw Sarpong, Head of the Other Financial Institutions Supervision Department represented by Madam Sarh Ofori and Dr. Richmond Atuahene, Director of Salman Partners & Financial Consult both delivered a speech on the theme. During the Annual General Meeting (AGM), a newly appointed Board Member was introduced to the General Assembly. The appointment was made in accordance with the Association’s Constitution and carries the same tenure as the current Board. The details of the co-opted member are provided below. Richard Arthur - Ahiafor & Associates, Avenor Chambers In attendance at the AGM was Mr. Kwesi Attobrah, Operations and Information Technology Head - Ghana Deposit Protection Scheme (GDPC), Executive Secretaries of our sister Microfinance Associations, and representatives from[...]

As part of the ongoing GIZ-supported Financial Literacy Project, plans were initiated to undertake a nationwide public education campaign aimed at promoting sound financial practices. The campaign focuses on key thematic areas including budgeting, savings culture, responsible loan repayment, and appropriate channels for seeking redress. A working group comprising representatives from the Association, GIZ, GHAMFIN, and the Bank of Ghana held a series of planning and technical development meetings with the consultant to design campaign messages, develop educational materials, and map out implementation strategies. The campaign was scheduled for launch in 2024, with the objective of improving financial awareness and strengthening consumer financial behaviour across the country. The campaign was successfully launched on July 10th 2024 coordinated by the FLEC Working Group and TransMedia. Through the campaign's tagline, 'Know Your Part, Do Your Part,' the Microfinance Sector Associations supported activities aimed at improving financial literacy and public trust by focusing[...]

To enhance knowledge and provide networking opportunities for its leadership, the secretariat organized two Directors' and CEOs' Breakfast Fora via Zoom during the year. The first forum, held on March 27th 2024, featured a presentation by the Ghana Deposit Protection Corporation on the Role and Benefits of the Deposit Insurance Scheme to the Financial Services Sector. This session provided essential insight into the deposit insurance framework crucial for member institutions. The second forum, held on October 17th 2024, focused on technological solutions and featured presentations from CAGECFI and All-Financial, both of which offered various core banking software and IT solutions to help members improve operational efficiency and service delivery.

The secretariat initiated the GAMC champions programme in 2024 and reached out to several members for financial support. We recognize Cidan Capital Microfinance and Baobab Microfinance as GAMC Champions in appreciation of their support to the Association beyond the payment of annual dues. These member companies made voluntary financial contributions to augment the operations of the Secretariat, particularly in the areas of advocacy and lobbying, capacity building and training, research and development, and public awareness initiatives. Their commitment and partnership have significantly contributed to the Association’s ability to deliver on its mandate, strengthen institutional capacity within the sector, and advance the collective interests of microfinance institutions across the country.

As part of efforts to recognize and honour dedicated service, the Association expressed its appreciation to former Board Members for their invaluable contributions to the growth and development of the Association. In 2024, a citation of appreciation was presented to each outgoing Board Member in recognition of their commitment, leadership, and support towards advancing the goals of the Association and strengthening the microfinance industry. This gesture served not only as a token of gratitude but also as an acknowledgment of their instrumental role in shaping key initiatives and promoting good governance within the Association.

The Chartered Institute of Marketing, Ghana (CIMG) organized its annual national marketing performance awards on Saturday, 7th September 2024 at the Labadi Beach Hotel. FwF Microfinance Limited was adjudged the Marketing-Oriented Microfinance Company of the Year 2023 and was inducted into the Hall of Fame in recognition of winning the award for four (4) consecutive years.