BoG warns of operations of unlicensed Wyselink Ltd

The Central Bank has cautioned the general public against the operations of microfinance company Wyselink Limited.

The firm, which has four outlets in Ghana is said to be operating with a forged Bank of Ghana License.

“Wyselink Microfinance Limited is NOT LICENSED to engage in microfinance business. Hence, anyone who does business with Wyselink Microfinance Limited, does so at his or her own risk and the Bank of Ghana will not be liable for the refund of any deposit lost by a depositor,” the Central Bank warned in a statement.

Below is the BoG’s full statement on the company.

NOTICE TO THE GENERAL PUBLIC

UNLICENSED DEPOSIT-TAKING ENTITY – WYSELINK MICROFINANCE LIMITED

The Bank of Ghana wishes to inform the general public of the activities of an entity, named Wyselink Microfinance Limited, which was engaged in deposit-taking, without a licence from the Bank of Ghana.

Wyselink Microfinance Limited was operating with a forged Bank of Ghana licence number 000267 purported to have been issued on 30th October 2013, as well as a Certificate of Incorporation and Certificate to Commence Business, both issued on 20th March, 2009.

The operations of the entity have since been closed down and the Bank of Ghana has reported the matter to the Ghana Police Service. The operators are assisting the Police with their investigations.

The Offices of Wyselink Microfinance Limited were located in Takoradi, Assin Fosu, Ofankor and Dobro.

The owner of Wyselink Microfinance Limited is Rev. Eric Nhyira Baafi. Other key officers of the entity are Messrs Isaac Fiifi Morgan, Director, Mr. Eugene Amankwah Asante, Operations Manager and Mr. Michael Annan, Head of Accounts.

Wyselink Microfinance Limited is NOT LICENSED to engage in microfinance business. Hence, anyone who does business with Wyselink Microfinance Limited, does so at his or her own risk and the Bank of Ghana will not be liable for the refund of any deposit lost by a depositor.

(Sgd.)

CAROLINE OTOO (MRS)

THE SECRETARY

Date: 29th March, 2018