The Bank of Ghana has cautioned the public against investing with an unlicensed microfinance company; Agro Development Fund Services Limited.<\/p>\n
[contextly_sidebar id=”b18bJoefnoaEytpBbsVF5rIPrqbsaK0x”]The company is reported to be operating from its office located at A67\/3, Asufufu, opposite the Sunyani Traditional Council, Sunyani.<\/p>\n
A statement from the central bank and signed by its Secretary, Caroline Otoo said the company is \u201ccarrying on the business of microfinance without a licence from the Bank of Ghana.\u201d<\/p>\n
The statement added that \u201canyone who does business with Agro Development Fund Services Limited, does so at their own risk.\u201d<\/p>\n
The caution follows the recent debacle involving DKM Microfinance Company which was also based largely in the Brong Ahafo region.<\/p>\n
Affected customers are still being paid their locked up investments which are estimated to be running into millions of cedis.<\/p>\n
The unfortunate development follows the halt of the company\u2019s operations in 2015 for flouting some rules guiding legal operations in the financial sector.<\/p>\n
–<\/p>\n
By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
The Bank of Ghana has cautioned the public against investing with an unlicensed microfinance company; Agro Development Fund Services Limited. [contextly_sidebar id=”b18bJoefnoaEytpBbsVF5rIPrqbsaK0x”]The company is reported to be operating from its office located at A67\/3, Asufufu, opposite the Sunyani Traditional Council, Sunyani. A statement from the central bank and signed by its Secretary, Caroline Otoo said […]<\/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":[121,32,11],"tags":[],"class_list":["post-290482","post","type-post","status-publish","format-standard","hentry","category-banking-and-finance","category-business","category-top-stories"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/290482","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=290482"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/290482\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=290482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=290482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=290482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}