Kojo Oppong Nkrumah gives reasons why BoG collapsed his microfinance company ghanavisions.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ghanavisions.com Daily Mail and Mail on Sunday newspapers.
Giving reasons why the company was collapsed at the Appointments Committee during his vetting, he said he was not in a position to inject any further capital in the organisation when the directors and management of Oval Microfinance reported difficulties and requested recapitalisation. According to him, the company s woes were compounded by the August 2019 hike in the minimum capital requirement demanded by the Central Bank. He said he [Kojo Oppong Nkrumah] came to the view that it [Oval microfinance] was in breach of what the new statutory requirement was. I, as a [majority] shareholder, and many of the other shareholders could not reinvest in the organisation as was being required by the directors and the management and the Bank of Ghana effectively revoked its license accordingly, he added.