The Ghana Association of Microfinance Companies (GAMC) launched its Microfinance Companies Capacity Improvement Project Monday.
GAMC received a $1.6 million grant from the Agence Francaise de Developpement toward this project to increase its training center capabilities and provide technical assistance to its members.
The technical training will focus on members who possess signs of high professionalism and sustainability and give them access to the program in 40 months' time.
An honored guest at the launch, French Ambassador to Ghana Francois Pujolas spoke about the project's benefits.
"When a large number of people do not have access to the banking system, a strong and resilient microfinance sector is an interesting alternative," Pujolas said.
It is hoped that the project will improve not only the quality of financial services from microfinance companies to individuals in Ghana who have difficulty accessing banking systems, but also result in increased transparency in the microfinance industry.