Ghana: Promising Results from a Concerted Approach with Multiple Stakeholders
A GIZ/BMZ initiative with multiple Ghanaian stakeholders shows the effectiveness and challenges of a multiplayer initiative across several responsible finance pillars. Working on the third pillar of responsible finance, financial education, is equally important. The technical assistance project implemented by GIZ supported the working group to implement a National Strategy for Financial Literacy and Consumer Protection in the Microfinance Sector. In collaboration with Bank of Ghana’s Investigation and Consumer Reporting Office, GIZ focused on developing a suitable regulatory framework for consumer protection, namely disclosure, recourse, and a set of general principles in coordination with CGAP.