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DKM customers ‘cry’ over insufficient refund

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It appears the woes of DKM customers are still not over as some validated customers in Wa have made fresh complaints concerning the mode of payment of their locked up cash.

According to the customers, officials at the GCB branch in WA pay them far less than the agreed amount of GH 10,000.

“They decide what to give you, for instance somebody investedGHS1700 as his principal deposit and he was given GHS250. This money is far less than  GHS10,000 which the liquidator said because we were made to understand that if your money is less than GHS10,000 you will be paid all, and if more than GHS10,000 you will receive GHS10,000,” Mohammed Ibn Farass, one of the customers told Citi Business News.

“This is not happening in any other branch but only here in Wa”, he alleged.

Mohammed Ibn Farass further lamented that all attempts to speak to the official liquidator —the Registrar General’s Department on the situation have so far proved futile.

Woes of DKM customers

Thousands of customers of DKM Microfinance Company lost their investments running into millions of cedis after the central bank in 2015 suspended the operations of DKM for violating the banking Act.

Though the central bank subsequently lifted the ban on the company’s operations, DKM was unable to pay its customers their locked up cash.

The Bank of Ghana confiscated the assets of the company and appointed the Registrar General’s Department to commence liquidation process to refund customers of the company.

By: Anita Arthur/

Citi Business News