Reverend Dr Daniel Agbeko, Senior Lecturer and Head of Multidisciplinary Studies at Ho Technical University, delivered the keynote address at the 2026 Annual General Meeting of the Micro‑Credit Association Ghana (MCAG) in Ho on 25 October. He called for collective action to strengthen governance, supervision and customer protection as part of broader reforms to the microfinance sector.
Agbeko said reforms must go beyond institutional restructuring to address structural weaknesses, improve compliance and ensure that microfinance institutions deliver services that support meaningful socio‑economic development. He highlighted the Bank of Ghana’s revised microfinance sector framework, which aims to bolster governance, protect depositors, improve risk management, expand financial inclusion responsibly, promote technological innovation and support institutional sustainability.
The lecturer urged industry players to utilise the new framework to enhance operations and contribute more effectively to financial inclusion and economic development. He described delegated supervision as an arrangement where regulatory authority formally assigns specific supervisory functions to a competent institution or supervisory body, subject to defined responsibilities, standards, reporting requirements and oversight.
According to Agbeko, delegated supervision could expand supervisory reach, increase monitoring frequency, strengthen early‑warning systems and support institutions serving communities beyond the reach of conventional financial services. However, its effectiveness would depend on clearly defined mandates, competent supervisory bodies, reliable information systems, appropriate enforcement and sustained accountability.
He cautioned that delegated supervision carries potential risks, warning that inadequate safeguards could lead to conflicts of interest, inconsistent supervisory practices, poor reporting and delayed intervention. The consultant urged key stakeholders to work together to build a sector that serves underserved communities, withstands emerging risks, embraces innovation and prioritises customer protection.
MCAG Board Chairman Benjamin Tuckson Jr added that the association must adapt to changes while remaining committed to integrity, service excellence and partnership. He said the industry’s future depends on embracing reform, strengthening institutions, investing in people, adopting appropriate technology and upholding high standards of governance and consumer protection.
As Agbeko concluded, “Let us ensure that our reforms create institutions that people can trust, businesses can depend on, and communities can rely upon. Effective regulation does not merely prevent failure; it creates the conditions for responsible success.”
The next steps will see industry leaders and regulators collaborate to implement the revised framework and monitor its impact on consumer protection and sector resilience.
