Depositors of the collapsed Microfinance companies, Savings and Loans, and Finance Houses will from today, September 16, 2020, have full access to their funds.
An amount of GHS 3.5 billion has been released by Government as a refund to depositors of collapsed financial institutions.
The government has however scrapped a much-criticized plan to issue a 5-year bond to the depositors at no interest.
The customers are part of the client base of some 15 savings and loan companies, eight finance houses, 347 microfinance institutions, 39 microcredit institutions, one leasing company, and one remittance company that lost their licenses between 2018 and 2019.
The Receiver of the collapsed microfinance companies, savings and loans, and finance houses, Eric Nana Nipah, proceeding with payment options of the affected customers.
Recently, the NDC stated in its Manifesto that it will within one year in office, pay the full amount due to every victim of the reckless and handling of the financial sector clean up by the Akufo-Addo Government.
It said, within one year in office, pay cash to holders of zero-coupon bonds issued over five years and forge ahead with efforts to improve financial sector oversight and market transparency and discipline.
Source: Mybrytfmonline/Kofi Atakora
