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    NIB MD laments cost of borrowing for private sector

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    NIB MD laments cost of borrowing for private sector

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

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    NIB MD laments cost of borrowing for private sector

    Kwahu Summit to focus on Africa’s economic transformation under AfCFTA – APN

    World Trade Centre Accra Accra announces partnership with Altkom Akademia to offer professional education in Africa

    Ghana has the 4th cheapest average cost of internet in Africa – Statista

    Africa’s internet economy to cross $180 billion by 2025: Report

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

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    NIB MD laments cost of borrowing for private sector

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

  • TECHNOLOGY

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

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Customers of defunct Man Capital demand timelines for payment of locked-up cash

byMinna Dablu
August 19, 2020
in Banking And Finance, Business, Top Stories
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Customers of defunct Man Capital Microfinance Company Limited are seeking timelines for payment of their locked-up cash from the Receiver of the collapsed microfinance and savings and loans institutions, Eric Nana Nipah.

Man Capital was among the 347 microfinance entities whose licenses were revoked by the Bank of Ghana during the clean-up of the sector.

15 months down the line, customers of the entity say they have been left helpless as many follow-ups made at the office of the Receiver have yielded no results whatsoever.

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Among others, the customers are asking the Receiver to furnish them with a favourable response regarding payment of their funds.

“We submitted our forms sometime in 2019 and we’ve been waiting for response because some people have been paid but it looks like none of the Man Capital customers had been paid. So, we kept following up and we were told they had received the records so they will work on it. We went back but they kept telling us they were working on it and the stories kept changing. So, we want to be told exactly what is going on with the company, so that we know where we stand,” Charlene Lamptey, one of the customers lamented in an interview with Citi Business News.

Some of the customers of Man Capital also said they feel left out of the payment process.

“We’ve been told several times that a number of customers are being paid. We’ve even heard the president say that about 96% of the people have been paid. We’ve been in the queue for all this while and the stories they keep telling us is that they are working on it but after working, nothing comes out of it. They also say that they can’t access the document and claims that we have submitted more than the list they have and that we should go and chase the owner of the business, which we think is unfair,” another customer, Charles Osei-Agyemang complained.

Background

The Bank of Ghana in 2019, embarked on a clean-up of the financial sector and revoked the licenses of some banks, microfinance and savings and loans companies.

Although government says it has settled as many as 98 percent of customers whose monies were locked up, there are still some who say they are yet to receive their money.

 

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Kwahu Summit to focus on Africa’s economic transformation under AfCFTA – APN

Ghana has the 4th cheapest average cost of internet in Africa – Statista

Africa’s internet economy to cross $180 billion by 2025: Report

Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

E-Levy is an overhyped revenue generation measure – Seth Terkper

Leverage crises to improve fortunes of continent – Ofosu-Dorte

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