The Registrar-General’s Department has told Citi Business News it is likely to complete the liquidation processes of DKM by the end of July this year.
The Registrar-General’s Department under the Ministry of Justice was recently engaged by the Bank of Ghana to handle the liquidation processes of DKM after scores of Ghanaians lost millions of cedis after the microfinance company run into financial challenges.
The company was alleged to have invested about GH₵77 million of its customers’ deposits in its subsidiary companies – DKM Airlines Company, DKM Fuel Station, DKM Transport, DKM Shea Butter Company and DKM Mining Company, among others.
Millions of cash deposited by the customers were locked up, following the BoG’s move in 2015 to stop the company, including others from operating over concerns that there were violating the microfinance regulations.
Speaking on Business Today the Chief State Attorney in charge of the Ashanti Region Nana Ama Akyiaa Prempeh said over 7 thousand people have so far been processed for payment after the company’s assets are sold.
“When we sent out the information for creditors to send their information to us, we were collating the numbers and the quantity of how much DKM owed, what we will distribute will be determined by the outcome… I believe the number of people affected is within the region of 7000 people,” she stated.
On when the Registrar General’s Department will be able to complete the process of liquidating, Nana Ama Akyiaa Prempeh was however hopeful that it will be completed within the next six weeks,
“…We are winding up the company and as part of the process, we are collating the numbers and the quantity of how much DKM owed. We have found out those who sent us their information as at the cut- off date. We are now collating the information to determine the extent of indebtedness. We are hopeful that in about six weeks we probably would have finished,” the Chief Attorney further added.
By: Vivian Kai Lokko/citibusinessnews.com/Ghana