Customers of DKM Microfinance have besieged the premises of the company’s transport wing in Bolga in protest against delays to release their locked up investments.
[contextly_sidebar id=”9bqNqFR9T3FIz4S5Aux5TcRo5lxCjIdG”]The customers who have also seized buses belonging to the company have threatened to continue picketing at the premises of DKM’s transport wing, that is DKM Transport services until their investments are paid.
The BoG placed a moratorium on the operations of the microfinance company on 11th of May, 2015 for violating the banking Act 2004 (Act 673).
According to the Bank of Ghana the company carried its operations in a manner that was detrimental to the interest of depositors.
Citi Business News has also gathered DKM Diamond Microfinance Company failed to hold sufficient assets to meet its liabilities to depositors.
The BoG extended the moratorium by 30 days after the earlier 90 days ended to September 11,2015 to enable DKM to raise adequate cash to meet depositors demands.
The move barred customers of the microfinance company from making withdrawals from any of its branches nationwide.
However the Bank of Ghana last month lifted the moratorium it placed on the operations of the microfinance company.
Following the lifting of the moratorium all locked up funds of customers were to be released.
But some of the customers who spoke to Citi Business News said DKM has failed to release the monies.
‘We are here today to make sure that no bus from DKM will leave Tamale.
We have been here since morning and our only leverage is the busses so we will not leave here till our money is given to us. We are willing to picket for days till we get our money back’.
By: Vivian Kai Lokko/citifmonline.com/Ghana