Don’t Charge High Interest Rates – MFIs Advised

An Economist and Research Fellow at the University of Ghana, Dr George Domfe, has noted with concern the difficulty small businesses continue to face in accessing funds from micro finance institutions (MFIs). 

He said these businesses which are already struggling are going for loans from some financial institutions at high interest rates, making it difficult for them to pay back before the due time. 

This Dr Domfe said hinders the growth of small scale businesses. 

He was speaking in Accra at a National Dissemination Workshop on Gender and Enterprise Development in Ghana. 

GBC