Accra
Accra
Kumasi
Ghana
023 106 9444 Mon - Fri 09:00 - 17:30 Odorkor Official Town- Opposite King of Kings Hotel (GA-500-8440)
032 204 8572 | 0557918422 Mon - Fri 09:00 - 17:30 Kumasi- Ghana
023 106 9444 Mon - Fri 09:00 - 17:30 Odorkor Official Town- Opposite King of Kings Hotel (GA-500-8440)
Accra
Accra
Kumasi
Ghana
023 106 9444 Mon - Fri 09:00 - 17:30 Odorkor Official Town- Opposite King of Kings Hotel (GA-500-8440)
032 204 8572 | 0557918422 Mon - Fri 09:00 - 17:30 Kumasi- Ghana
023 106 9444 Mon - Fri 09:00 - 17:30 Odorkor Official Town- Opposite King of Kings Hotel (GA-500-8440)
Incorporated in
Ghana
Umbrella
Body
Money
Lending
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Operating Guideline for TIER 4

Permissible Activities:

Enterprises undertaking money lending activities shall include the words ‘Money lending’ in their names. Money lending shall involve the granting of micro-loans to their customers for such tenors as agreed between the lender and the borrower.

Branch expansion:

Tier 4 operators shall carry out their activities within a defined geographical area such as a town, city, a market or a suburb and shall not operate branches

Prudential Reporting:

MLAG shall collect and collate statistics on the operations on its members and furnish this to the Bank of Ghana periodically as may be determined.

Investment:

Tier 4 Institutions are not allowed to take investment from the public. Members can however take personal loans, family assistance for their operation

Prudential Oversight

  • Tier 4 institutions shall submit Quarterly Operational reports to the Money Lenders Association Ghana,
  • Tier 4 institutions may be subject to on-site supervision of such periodicity as may be determined by the Money Lenders Association Ghana.
  • An operating licence shall be subject to annual renewal upon satisfactory performance and payment of an annual licence renewal fee and annual dues.

Others

  • Members without License SHALL not Operate.
  • Operation Offices of members should be open during working days

Our Stakeholders

About us

The Micro-Credit Association Ghana [MCAG] incorporated on May 2, 2010 as an umbrella organization for Micro crediting organizations and individuals under the Companies Code 1963 (Act 179) as an association limited by guarantee

Our mission

MCAG exists to provide credit to economically deprived individuals and businesses in a regulated, market-driven environment to improve standard of living in Ghana.

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