The call for a regulatory review is opportune in this COVID era where market dislocations have called into question the structural resilience of the NBFI sector and its response to the wide spread distress. As COVID subsides and a semblance of normalcy is restored, the several thousands of micro-, small and medium enterprises that rely on micro-credit to fund their working capital, will come calling on the doors of operators, but help may not be readily available.
In an open letter to the governor of the Central Bank of Ghana, Metis Decisions Limited advocated strongly for a review of the Business Rules and Sanctions in order to unleash the full potential of the non-bank financial sector as the latter responds to increasingly asset impairment caused by COVID-19.
The open letter which was published by the Business and Financial Times newspaper can be read here.
