BUSAC Fund extends support to money lenders
The Money Lenders Association of Ghana (MLAG) on May 24, 2016, signed a grant contract with the management of Business Sector Advocacy Challenge Fund (BUSAC Fund) for its advocacy activity in Accra.
Advertisement
The fund by BUSAC is a component to private sector development programmes with support from DANIDA, EU and USAID and signed by the board chair on behalf of the association.
Mr Borbor Frank Mawutor, Executive Secretary and Mrs Regina Kumi, Board Chair of MLAG, respectively gave the assurance that the fund would be put to good use.
An amount of GH¢120,067.50 will be used for the aforementioned project within six months. A satisfactory performance by
This commission will see the association having a good relationship with the fund managers and more support in future.
Mr Borbor said the main aim of the fund was to assist the association to engage the Bank of Ghana, the regulator of the Money Lenders, on a regulation for Tier 4 and other related issues.
He said sensitisation workshops would also be organised at the zonal levels across the country to sensitise members and the entire citizenry to the findings of the research and the need to engage the Bank of Ghana and related stakeholders to provide an inclusive regulatory framework on self-regulation for the operations of Tier 4.
Meanwhile, there will be an intensive media campaign to create stakeholders' awareness while broadening the understanding of the scope of supervision mandate of the MLAG which contributes towards enhancing understanding of activities of Tier 4.
