Tag: 347 Micro Finance Companies
-
Ex-staff of defunct MFIs and S&Ls to be paid after outstanding issues are resolved – Receiver
The Receiver of the 347 defunct Microfinance companies, 23 Savings and Loans and Finance Houses, Eric Nana Nipah says money to pay ex-staff is available, but payment can only be done when issues raised by the ex-staff and their representatives are resolved. He made the comments on Citi TV‘s Current Affairs program The Point of…
-
Asset base of defunct microfinance firms, others was short by GHS4 billion – Receiver
The Receiver of the 347 defunct microfinance companies, 23 savings and loans and finance houses, faced a GHS4 billion shortfall in the asset base of defunct companies it hoped to recover. Speaking on Citi TV‘s The Point of View, Eric Nana Nipah explained that the firms cumulatively said they had an asset base of about…
-
Customers of defunct Microfinance firms, S&Ls to receive full cash payment from September 16
Depositors of the collapsed Microfinance companies, Savings and Loans and Finance Houses will from Wednesday, September 16, 2020, have full access to their funds. It follows the government’s resolution of the original commercial paper, also known as bond. The government on Tuesday released a total of GHS3.56 billion to settle the remaining depositor claims of…
-
Receiver struggles to retrieve records of 35 defunct financial institutions to validate GHS252M claims
The Receiver of the 347 defunct Microfinance companies, 23 Savings and Loans and Finance Houses, Eric Nana Nipah, says he is unable to undertake a detailed asset tracing of 35 resolved companies to enable him validate and settle claims of depositors under the Depositor Payment Scheme. According to him, he is still working with the…
-
Submission of bids for purchase of assets of defunct Microfinance, S&L firms extended
The Receiver of the 347 insolvent Microfinance Companies and 23 Savings and Loans Companies and Finance House Companies, Eric Nana Nipah, has extended the deadline for the submission of bids to purchase the assets of the dissolved companies by two more weeks. The initial deadline was Monday, 27 July 2020, but has been extended to…
-
We need a policy to protect our activities – Ass. of Savings and Loans Companies to Gov’t
The Ghana Association of Savings and Loans Companies is urging government to come out with a policy that will protect its members in times of difficulties. According to the Association, even though the Bank of Ghana regulates the financial sector, best practices in some African countries show that savings and loans companies are better protected…
-
Prosecutions will begin in August – Receiver for defunct Microfinance & S&Ls firms
The Receiver for the defunct 347 Microfinance Companies and 23 Savings and Loans Companies and Finance Houses, Eric Nana Nipah, says the government is not only interested in recovering assets and paying depositors, but will also commence prosecutions from August this year. In an interview with Citi Business News, Mr. Nipah, who has assured a…
-
Receiver to pay all depositors of defunct Microfinance & S&Ls firms by end of July
The Receiver of the defunct 347 Micro Finance Companies, 23 Savings and Loans and Finance Houses, Eric Nana Nipah, says customers who have not received their claims, should be able to access them by the end of July this year. According to Mr. Nipah, he has already paid about 96% of customers, and is hopeful…