{"id":273611,"date":"2016-12-02T09:45:29","date_gmt":"2016-12-02T09:45:29","guid":{"rendered":"http:\/\/citifmonline.com\/?p=273611"},"modified":"2016-12-02T09:45:29","modified_gmt":"2016-12-02T09:45:29","slug":"microfinance-companies-reject-new-bog-logo","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=273611","title":{"rendered":"Microfinance companies reject new BoG logo"},"content":{"rendered":"

It appears the decision by the Bank of Ghana(BoG) to introduce a new logo for all microfinance companies in the country may face a stiff resistance.<\/p>\n

The Bank of Ghana in announcing new regulations for microfinance companies in Ghana launched a logo to distinguish between licensed microfinance institutions and unlicensed ones.<\/p>\n

But the decision was rejected by some microfinance companies in a meeting at Kumasi.<\/p>\n

Speaking to Citi Business News, Banking Consultant Nana Otuo-Acheampong stated that the resistance was expected since most microfinance companies have build their corporate brands with their unique logos.<\/p>\n

\"Nana<\/a>
Nana Otuo Acheampong<\/figcaption><\/figure>\n

According to him, the central bank could have used a small signage on the logos of microfinance companies to indicate its endorsement.<\/p>\n

He argued that replacing the logos of all microfinance companies in the country will not work since some firms have spent huge funds in branding.<\/p>\n

\u201cWe can have a small signage similar for what we have for Visa cards , but not such big thing that will replace what they have. People have built their brands over a number of years and some of these microfinance companies have been trading for ten, fifteen twenty years. All of a sudden you come and say deface it and use this big thing, it will be difficult so I think the brand must be there,\u201d he stressed.<\/p>\n

Mr. Otuo-Acheampong stated that the BoG has promised to readdress the issue and come out with a final decision soon.<\/p>\n

Expressing optimism in the central bank\u2019s ability to resolve the issue, Mr. Otuo-Acheampong observed that the relevant authorities will come out with position that will strengthen the relationship between the bank and the companies.<\/p>\n

“BoG as a listening bank said they are taking their concerns so hopefully they should come out with something not big as the one they show but something a miniature of the Visa sign,” he said.<\/p>\n

–<\/p>\n

By: Lawrence Segbefia\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"

It appears the decision by the Bank of Ghana(BoG) to introduce a new logo for all microfinance companies in the country may face a stiff resistance. The Bank of Ghana in announcing new regulations for microfinance companies in Ghana launched a logo to distinguish between licensed microfinance institutions and unlicensed ones. But the decision was […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[1],"tags":[2002],"class_list":["post-273611","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-ghana-business-news"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/273611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=273611"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/273611\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=273611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=273611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=273611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}