SamBoad Business Group Limited exceeds BoG’s minimum requirement

SamBoad Micro-Credit Services, a subsidiary of SamBoad Business Group Limited, has recorded a strong financial and documentary performance and exceeded the Bank of Ghana’s (BoG’s) through Micro-credit Association Ghana minimum capital requirement.

Samuel Kwame Boadu, Managing Director of SamBoad Micro-Credit Services and Founding CEO of SamBoad Business Group Limited disclosed this in an interview in Accra.

He said that, “Before the start of SamBoad Micro-Credit Services, the Bank of Ghana came out with a new requirement that all Micro-Credit Firms should meet a minimum paid-up capital by 31st December 2018. I am happy to announce that as of October 2018, SamBoad Business Group Limited had exceeded the capital and documents requirement”.

In September 2017, the BoG announced the new minimum paid-up capital requirement, as part of a holistic financial sector reform plan to further develop, strengthen, and modernize the financial sector to support the government’s economic vision and transformational agenda in the Micro-credit sector.

SamBoad Micro-credit, a subsidiary of SamBoad Business Group LLC, has recorded a strong financial performance and exceeded the Bank of Ghana’s (BoG’s) minimum capital and documents requirement, as indicated in its Q3 Financial Report.

The minimum capital requirement which is a 233 percent increase over the previous benchmark, according to the Central Bank is to create stronger Micro-credit sectors that can drive the Country’s economic growth by funding SME’s in Ghana.

Samboad Business Group LLC

Samboad Business Group LLC