The President of Ghana, His Excellency Akuffo Addo as part of his regional tour, today August 4, 2020, has averred that his government is willing to invest GH₵ 21 billion in financial institutions across the country.
According to the President, this is to help protect the fund’s customers deposit in these institutions, after all, money is refunded to the customers.
“When it is over banks, microfinance, savings and loans, investment funds, GH₵ 21billion is what is coming from the government to protect Ghanaian depositors and investors to make sure that people do not pay for the irresponsible money,” he said.
This came after some financial institutions were closed down leaving the funds of some of the customer’s deposits locked up in their firms.
He added that these consolidated financial institutions were on the verge of collapsing which would have made the customers lose all their funds, so this fund is to make financial institutions stable.
Revealing that about 98% of the locked-up funds been deposited by the customers, the President added that “However, not all of them have received their funds, but it’s expected that by the end of August all depositors will receive their funds, he asserted.
Source: Mybrytfmonline/Pechi-Anim Alnice Padikie
