ASSESSING RISKS FACED BY MICROFINANCE INSTITUTIONS (MFIS) IN GHANA: FINDINGS FROM A RISK ASSESSMENT SURVEY IN HO MUNICIPALITY

Komla Clarkson

Authors

Komla Clarkson Lecturer, Department of Accounting and Finance, Ho Technical University, Ho, Volta Region, Ghana

Keywords:

Microfinance institutions, risk assessment, Ho Municipality

Abstract

Microfinance Institutions (MFIs) play a vital role in providing financial services to underserved populations. However, they encounter various risks that can impact their sustainability and mission. This study focuses on assessing the risks faced by MFIs in Ghana, with specific attention to the Ho Municipality. Through a comprehensive risk assessment survey, the research identifies and analyzes key risks such as credit, operational, market, and regulatory risks. The study unveils the vulnerabilities and mitigation strategies adopted by MFIs. The findings provide valuable insights for stakeholders, regulators, and practitioners to enhance risk management practices, promote sustainable microfinance operations, and ensure the continued positive impact on the socio-economic landscape.

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