Nana Otuo Acheampong<\/figcaption><\/figure>\nAccording 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":[],"categories":[1],"tags":[2002],"yoast_head":"\n
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