Regulatory Challenges
As Ghana has come to rely more on local debt collection agencies to recover non-performing loans, a lack of regulation in the industry has led to questionable conduct, which can harm well-meaning creditors’ reputations.
There is no legislation or regulatory body to define and enforce debt collection practices in Ghana. In addition, there are no eligibility requirements for regulatory licenses, which means there is no way to verify expertise or background. Unethical conduct has been known to occur, including improper book-keeping, collecting the more than is owed and collecting without power of attorney.
To avoid harming your reputation, it’s important to hire a well-vetted Ghana debt recovery agency.
We are contractually bound to adhere to strict operational and ethical standards, ensuring that your good name stays protected throughout the debt collection process.
