To regulate or not? Microfinance growth and collapse in Ghana
Anani, S.K. (2016) ‘Understanding factors that determine successful change implementation in microfinance in Ghana’, PhD dissertation, Swiss Management Center University, School of Business.
Andah, D.O. (2005) ‘Regulation, supervision, and access to microfinance: the case of Ghana’, Essays on Regulation and Supervision No. 10 [online], The Microfinance Regulation and Supervision Center, College Park, MD <https://www.findevgateway.org/sites/default/files/publications/files/mfg-en-paper-regulation-supervision-and-access-to-microfinance-the-case-of-ghana-2005.pdf> [accessed 28 May 2021].
Aryeetey, E. (1994) ‘Financial integration and development in sub-Saharan Africa: a study of informal finance in Ghana’, Working Paper 78 [online], Overseas Development Institute, London <https://www.researchgate.net/publication/252400611_FINANCIAL_INTEGRATION_AND_DEVELOPMENT_IN_SUB-SAHARAN_AFRICA_A_STUDY_OF_INFORMAL_FINANCE_IN_GHANA> [accessed 28 May 2021].
Asante, A. (2020) ‘Effects of collapse and delicensing of microfinance institutions on microentrepreneurs in La Nwantanang-Madina Municipality’, MA dissertation, Development Studies, Institute of Statistical, Social and Economic Research, University of Ghana, Legon.
Awadzi, E.A. (2020) ‘Opening remarks’, Media Sensitization Programme [online], Ghana Association of Savings and Loans Companies, Association of Finance Houses, and Ghana Association of Micro Finance Companies, Accra, 13 October <https://www.bog.gov.gh/wp-content/uploads/2020/10/Second-Deputy-Governor-Mrs-Addo-Awadzis-Opening-Remarks-SDIs-Associations-Media-SensitizationOct-2020-1.pdf> [accessed 28 May 2021].
Bank of Ghana (BoG) (2011) ‘Operating rules and guidelines for microfinance institutions’ [online], Notice No. BG/GOV/SEC/2011/04, BoG, Accra <https://www.bog.gov.gh/wp-content/uploads/2019/08/Operating-Rules-and-Guidelines-for-Microfinance-Institutions.pdf> [accessed 28 May 2021].
BoG (2013) Annual Report 2013 [online], BoG, Accra <https://www.bog.gov.gh/wp-content/uploads/2019/07/AnnRep-2013.pdf> [accessed 28 May 2021].
BoG (2016) Annual Report 2016 [online], BoG, Accra <https://www.bog.gov.gh/wp-content/uploads/2019/07/AnnRep-2016.pdf> [accessed 28 May 2021].
BoG (2020) Annual Report 2019 [online], BoG, Accra <https://www.bog.gov.gh/wp-content/uploads/2020/06/AnnRep-2019.pdf> [accessed 28 May 2021].
Bateman, M. (2014) ‘South Africa’s post-apartheid microcredit-driven calamity: comparing “developmental” to “anti-developmental” local financial models’ [online], Austrian Foundation for Development Research, Vienna <https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2460064> [accessed 28 May 2021].
Christen, R. and Rosenberg, R. (2000) ‘The rush to regulate: legal frameworks for microfinance’ [online], CGAP Occasional Paper No. 4, Washington, DC <https://www.cgap.org/sites/default/files/CGAP-Occasional-Paper-The-Rush-to-Regulate-Legal-Frameworks-for-Microfinance-Apr-2000.pdf> [accessed 28 May 2021].
Consultative Group to Assist the Poor (CGAP) (2012) ‘A guide to regulation and supervision of microfinance: consensus guidelines’ [online], CGAP, Washington, DC <https://www.cgap.org/sites/default/files/Consensus-Guideline-A-Guide-to-Regulation-and-Supervision-of-Microfinance-Oct-2012_0.pdf> [accessed 28 May 2021].
Darko, E. (2019) ‘Closure of 386 microfinance and microcredit companies nearly 1.2m depositors, GH¢1bn at risk’, The Finder, 3 June 2019 [online] <https://thefinderonline.com/news/item/16319-closure-of-386-microfinance-and-microcredit-companies-nearly-1-2m-depositors-gh-1bn-at-risk> [accessed 28 May 2021].
Decker, P., Durand, R., Mayfield, C.O., McCormack, C., Skinner, D. and Perdue, G. (2012) ‘Predicting implementation failure in organization change’, Journal of Organizational Culture, Communications and Conflict 16(2): 29.
Dogbevi, E.K. (2017) ‘MMM Ghana is Ponzi scheme, not licensed – Central bank’, Ghana Business News, 10 May 2017 [online] <https://www.ghanabusinessnews.com/2017/05/10/mmm-ghana-is-ponzi-scheme-not-licensed-central-bank/> [accessed 12 December 2020].
Ganesh, L. and Mehta, A. (2010) ‘A survey instrument for identification of the critical failure factors in the failure of ERP implementation at Indian SMEs’, International Journal of Managing Public Sector Information and Communication Technologies (IJMPICT) 1(2): 10–22.
Ghana Microfinance Institutions Network (GHAMFIN) (2013) Performance Monitoring and Benchmarks of Microfinance Institutions in Ghana: Trends in the Industry During the 2004, 2007, 2010, GHAMFIN, Accra.
GHAMFIN (2014) Performance Monitoring and Benchmarks of Microfinance Institutions in Ghana: Trends in the Industry During the 2000s: 2006–2012, GHAMFIN, Accra.
Ghana Ministry of Finance (MoF) (2015) ‘Co-operative Credit Union Regulations, 2015 (L.I. 2225)’ [online], MoF, Accra <https://bcp.gov.gh/acc/registry/docs/CO-OPERATIVE%20CREDIT%20UNION%20REGULATIONS,%202015%20(L.I.%202225).pdf> [accessed 28 May 2021].
Ghana, Republic of (2007) ‘Ghana Microfinance Policy (GHAMP), November 2006’ [online], Ministry of Finance, Accra <https://www.findevgateway.org/sites/default/files/publications/files/mfg-en-paper-ghana-microfinance-policy-nov-2006.pdf> [accessed 28 May 2021].
Ghana, Republic of (2008) ‘Non-Bank Financial Institutions Act, 2008’, Act 774 [online], Republic of Ghana, Accra <https://bcp.gov.gh/acc/registry/docs/Non-Bank%20Financial%20Institution%20Act,%202008%20Act%20774.pdf> [accessed 28 May 2021].
Ghana, Republic of (2012) ‘Rural and Agricultural Finance Programme – IFAD Loan 761/761A Supervision & Implementation Support Mission: 12-30 November, 2012: Aide-Memoire’ [online], Ministry of Finance and Economic Planning, Accra <https://www.ifad.org/documents/38714182/39712661/ghana2012.pdf/8a6cedba-d0ab-4512-9c4a-8bb6111ca5c2> [accessed 28 May 2021].
Goodwin-Groen, R., Bruett, T. and Latortue, A. (2004) ‘Uganda Microfinance Sector Effectiveness Review’ [online], CGAP, Washington, DC <https://documents1.worldbank.org/curated/en/221431468113361691/pdf/342850UG0Effectiveness0review.pdf> [accessed 28 May 2021].
Hawking, P. (2013) ‘Factors critical to the success of business intelligence systems’ [online], doctoral dissertation, Victoria University College of Business, Melbourne <https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.670.486&rep=rep1&type=pdf> [accessed 28 May 2021].
Lascelles, D. and Mendelson, S. (2009) ‘Microfinance banana skins 2009’ [online], Centre for the Study of Financial Innovation (CSFI), London <https://static1.squarespace.com/static/54d620fce4b049bf4cd5be9b/t/55339ef4e4b048e6fa9eb039/1429446388498/Microfinance+Banana+Skins+2009.pdf> [accessed 28 May 2021].
Mamuta, M. (2012) ‘Exorbitant interest rates: a response from the Russian microfinance industry’ [online], CGAP Blog Series Microfinance in Russia (11 May 2012) <https://www.cgap.org/blog/exorbitant-interest-ratesa-response-russian-microfinance-industry> [accessed 28 May 2021].
Maynard, E.S. (1996) ‘The translocation of a West African banking system: the Yoruba Esusu Rotating Credit Association in the Anglophone Caribbean’, Dialectical Anthropology 2(1): 99–107.
Mbugua, D. (2014) ‘Critical success factors on turnaround strategy of microfinance institutions in Kenya’, The Strategic Business & Change Journal of Management 1(1): 73–84.
Mercer (2012) ‘The congruence model: a roadmap for understanding organizational performance’ [online] <https://www.academia.edu/26617289/Delta_Mercer_Congruence_Model> [accessed 28 May 2021].
Mustapha, S. (2019) ‘BoG secures GH¢900m to sanitise microfinance sector’ [online], Graphic Online, 28 May <https://www.graphic.com.gh/business/business-news/ghana-news-bog-secures-gh-900m-to-sanitise-microfinance-sector.html> [accessed 8 December 2020].
Myjoyonline (2018) ‘BoG shuts down Wyselink Microfinance for operating with fake license’ [online], Myjoyonline.com, 5 April 2018 <https://www.myjoyonline.com/bog-shuts-down-wyselink-microfinance-for-operating-with-fake-license/> [accessed 28 May 2021].
Nadler, D.A. and Tushman, M.L. (1980) ‘A model for diagnosing organizational behavior’, Organizational Dynamics 9(2): 35–51 <http://dx.doi.org/10.1016/0090-2616(80)90039-X>.
Ngumbao, K. (2012) ‘The key success factors for microfinance industry in Mombasa’, International Journal of Research in Management, Economics and Commerce 2(3): 14–19.
Ofori, E. (2020) ‘The effects of Ponzi schemes and revocation of licences of some financial institutions on financial threat in Ghana’, Journal of Financial Crime, Epub ahead of print, 13 March 2020 <https://doi.org/10.1108/JFC-01-2020-0003>.
Otero, M. and Rhyne, E. (eds) (1994) The New World of Microenterprise Finance, Kumarian Press, West Hartford, CT.
Popovich, A. and Steel, W.F. (2016), ‘Ghana’s Microfinance Sector: Challenges, Risks and Recommendations’, Finance & Markets, April 2016 [online], World Bank, Washington, DC <http://hdl.handle.net/10986/30214> [accessed 28 May 2021].
Pouchous, A. (2012) ‘The regulation and supervision of microfinance: main issues and progress’ [online], The International Institute for Sustainable Development, Winnipeg CA <https://www.iisd.org/system/files/publications/regulation_supervision_microfinance.pdf> [accessed 28 May 2021].
Rahman, M.W. and Luo, J. (2012) ‘Regulation of microfinance service provider in China and Bangladesh: an approach to strengthening the regulatory environment’, African Journal of Business Management 6(3): 1019–33 <https://doi.org/10.5897/AJBM11.1739>.
Riquet, C. and Poursat, C. (2013) ‘Managing failing deposit-taking institutions: regulatory experience from Africa’ [online], CGAP Focus Note No. 91, Washington, DC <https://www.cgap.org/sites/default/files/Focus-Note-Managing-Failing-Deposit-Taking-Institutions-Regulatory-Experience-from-Africa-Dec-2013.pdf> [accessed 28 May 2021].
Staschen, S. (1999) ‘Regulation and supervision of microfinance institutions: state of knowledge’ [online], GTZ, Eschborn <https://www.findevgateway.org/paper/1999/08/regulation-and-supervision-microfinance-institutions-state-knowledge> [accessed 28 May 2021].
Staschen, S. (2003) ‘Regulatory Requirements for Microfinance: A Comparison of Legal Frameworks in 11 Countries Worldwide’ [online], GTZ, Division 41, Economic Development and Employment Promotion, Eschborn <http://citeseerx.ist.psu.edu/viewdoc/download?rep=rep1&type=pdf&doi=10.1.1.131.9377> [accessed 28 May 2021].
Steel, W.F. and Andah, D.O. (2008) ‘Rural and microfinance regulation in Ghana: implications for development of the industry’, in E. Aryeetey and R. Kanbur (eds), The Economy of Ghana: Analytical Perspectives on Stability, Growth and Poverty, Chapter 10, Woeli Publishing Services and James Currey (UK), Accra, Ghana.
- Development impact bonds: learning from the Asháninka cocoa and coffee case in Peru
- Trade-off between outreach and sustainability of microfinance institutions: evidence from sub-Saharan Africa
- Value chain development for rural poverty reduction: A reality check and a warning
- Impact assessment of commodity standards: towards inclusive value chains
- What is cocoa sustainability? Mapping stakeholders’ socio-economic, environmental, and commercial constellations of priorities