16
May
Executive Director at the Ghana Microfinance Institution Network (GHAMFIN), Yaw Gyamfi, has expressed concern over the increasing prevalence of Ponzi schemes in the country; emphasising the need for citizens to exercise caution when dealing with financial institutions that promise unrealistically high-interest rates within a short period. During a two-day media capacity training on financial literacy organised by the Ministry of Finance in Tamale, he stressed the importance of citizens refraining from engaging with institutions that make such promises, as their savings are often stolen through these fraudulent means. “Ponzi schemes are on the rise in the country as many citizens’s…