An apex body to govern Susu collection in the country is expected to become operational in June this year.
Susu collectors provide an informal means for Ghanaians to save and access credit. The industry has however being fraught with fraud and illegalities.
Operators of the traditional microfinance industry are presently governed by a self-regulatory framework, adopted with the institutional support of the Central Bank and the Finance Ministry.
Government is now facilitating series of consultative meetings for individual Susu collectors and companies to merge under the Ghana Cooperative Susu Collectors Association.
President of the association, Emmanuel Aboagye-Manu, is hopeful a policy blueprint would soon receive legal backing to minimize fraudulent activities in the sector.
The Association has for the past three years pushed for a legal framework to integrate traditional susu collectors into the semi-formal micro-finance sector.
Mr. Aboagye-Manu tells Luv Fm the association has the support of the Central Bank and the security services to flush out unscrupulous operators of susu in the county beginning next month.
He entreated unregistered members to join the GCSCA in their own interest.
Story by Kofi Adu Domfeh
We’ll no longer tolerate your empty, unwarranted attacks – TUC blasts Prof Adei
Bawumia donates GHc200,000 to support Madina fire victims
IMF to disburse US$360million third tranche to Ghana without creditors MoU
Truck owner share insights into train collision incident
Paramount chief of Bassare Traditional Area passes on
Two teachers in court over alleged illegal possession of BECE papers
Sunyani: Victim allegedly shot by traditional warriors appeals for justice
Mahama vows to scrap teacher licensure exams, review Free SHS policy
Government will replace burnt Madina shops with a new three-story, 120-store fac...
