Ghana - Apply for Savings and Credit Co-operative License

Advertisement

Procedure

Apply In-Person:

1. To Apply for Savings and Credit Co-operative License, the applicant should make the application to the Ministry of Trade and Industry. Please view the Ministry’s contact details through this Contact link
2. The applicant should obtain the application form for Savings and Credit Co-operative License at the front desk of the Cooperatives Division at the ministry’s office or download the form directly through this Application form.
3. Read and complete the application form correctly and attach all the required supporting documents as instructed in the application form or as mentioned in the “Required Documents” section below.
4. Then the applicant should visit the Ministry’s office and pay the application fee at the cashier’s office and obtain the payment receipt that can be found under the "Fees" section of this page.
5. Upon making the payment, the applicant should submit the complete application dossier to the official at the Ministry of Trade and Industry.
6. The official will verify the application and check if the form is completed correctly and if all the required supporting documents are attached.
7. If the application is completed accordingly and all the documents are in order, the official will issue the applicant the acknowledgment receipt of the application.
8. Upon completion of the verification process, the application will be forwarded to the Registrar of Co-operative Societies.
9. The Registrar will evaluate the application and decide to approve or dismiss the application depending on the merits of the application.
10. After the Registrar makes the decision, the applicant will be informed in writing within 14 days.
11. If the Registrar dismisses the application, the registrar will state in clear terms the reason for making that decision.
12. Where the application is approved, the applicant will be required to pay the annual fee at the Ministry’s office and that can be found under the "Fees" section of this page.
13. If all the above mentioned procedures were followed properly, Savings and Credit Co-operative License will be done within 1 month.

Advertisement

Required Documents

• Application form.
• Fit and Proper Test
• Certified copy of the Society Registration certificate
• Verified official notification of the Society's registered head office
• Certified copy of the Society's Bylaws
• Business Plan and/or Feasibility Study
• Approved ADM/AGM minutes approving application for the deposit taking license
• Preceding 3 years audited accounts
• Proof of adequate capital
• Any other document requested by the registrar.

Office Locations & Contacts

Ministry of Trade and Industry
Address: HR22+2W, Accra
Business Regulatory Reform (BRR)
Ministry of Trade & Industry
Ministries, Accra - Ghana
Contact number: +233596530847
Phone: (+233) 302 686-528
E-mail : [email protected]
Contact link
Location link

Eligibility

• Any registered Cooperative Society in Ghana is eligible for this application.

Fees

• The application fee is 1000 GHS.

Validity

• The license is valid for one year and is eligible for renewal.

Documents to Use

Please attach documents that can be used by people. e.g. links

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• The application is processed within 30 working days.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Applicant must follow all the instructions provided by the concerned authorities properly.
• Applicant should provide genuine information while applying for renewal.

Required Information

• Name of Proposed society.
• Address of proposed society.
• Type of proposed society (primary/secondary/tertiary).
• Geographical area of operation (Village, Town, District, Organization).
• Previously registered certificate number
• By-laws of the society
• Objects of the society.
• Name/telephone and address of interim President, Secretary, and Treasurer.
• Declaration by the applicant.

Need for the Document

• No co-operative society should operate in Ghana unless it is registered and has a valid license issued by the Ministry of Trade and Industry.

Information which might help

Enter other informations which might help.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

Place some external links which might help.

Others

More information which might help people.