Business News of Friday, 31 May 2019Source: starrfm.com.ghBoG revokes license of McOttley Capital, 28 othersErnest Addison, Governor of the Bank of GhanaThe Bank of Ghana has, with effect from today, revoked the licences of 29 insolvent microcredit companies (see attached list). The Bank of Ghana has also revoked the licences of 10 insolvent microcredit companies that have ceased operations. NAME OF INSTITUTION1 Allied Wealth Money Lending Limited2 Bennet Money Lending Limited3 Bremco Money Lending Company Limited4 Calmad Money Lending Company Limited5 Catamount Finance Money Lending Limited6 Citizens Money Lending Limited7 Divine Announcement Money Lending8 Fountain Money Lending Services Limited9 GDFS Money Lending Limited10 GFI Capital Management Money Lending Limited11 Great Africa Money Lending Limited12 Hatmag Money Lending Limited13 Haubins Money Lending Limited14 Index Money Lending Limited15 KAF Investment Money Lending Limited16 KBN Money Lending Limited17 KYC Money Lending Limited18 McOttley Money Lending Limited19 N & J Money Lending Limited20 Obrapa Money Lending Limited21 One2One Money Lending Services Limited22 Orbit Money Lending Co. Limited23 Pitsea Ways Money Lenders Limited24 P-Mag Investment Money Lending Services Limited25 Sat Finance Money Lending Limited26 Shammah Capital Money Lending Limited27 SNJ Money Lending Limited28 Uni-focus Money Lending Limited29 Zeta Money Lending LimitedMICROCREDIT COMPANIES – INSOLVENT AND CEASED OPERATIONS S/No. NAME OF INSTITUTION1 Boafo Yena Money Lending Limited2 CFI Money Lending Limited3 CIF Money Lending4 First Assurance Money Lending Services Limited5 Global Point Investment and Money Lending Services Limited6 Intelligent Money Lending Company Limited7 Kan Money Lending Company Limited8 PD PAG Money Lending Limited9 R.P.I.C. Money Lending Services Limited10 TCP Money Lending Limited

Source: GhanaWeb May 31, 2019 16:18 UTC