Tag: 347 microfinance companies
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GHS3.56 billion cash released to settle remaining customers of collapsed Microfinance firms, others
Government has released GHS3.56 billion in cash to fully settle depositor claims of 347 defunct Microfinance companies, 23 Savings and Loans firms and Finance Houses that were being settled with bonds. The money will be ready for the depositors from Wednesday, September 16, 2020, according to a statement from the Receiver of these defunct firms.…
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Receiver traces assets of collapsed Microfinance & S&Ls to settle outstanding claims
The Receiver of the defunct 347 Micro Finance Companies, 23 Savings and Loans and Finance House Companies, Eric Nana Nipah, says he is undertaking a detailed asset tracing of the owners of the collapsed financial institutions. This is to enable him have access to more liquidity in settling outstanding claims following the collapse of the…
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Negotiations to pay claims to ex-staff of Microfinance and S&Ls firms starts today
The Receiver, Eric Nana Nipah will from Monday, July 13, 2020, begin negotiations with all authorized representatives of former employees of the defunct 347 microfinance firms and 23 savings and loans companies and Finance House firms to pay them their full outstanding salaries and negotiated and exit packages. This follows a decision by the Bank…
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BoG to pre-finance outstanding salaries of ex-staff of Microfinance and S&Ls firms
The Bank of Ghana has agreed to pre-finance the full outstanding salaries and negotiated an exit packages of former employees of the defunct 347 microfinance firms and 23 savings and loans companies and Finance House firms. This was announced in a statement by the Receiver, Eric Nana Nipah, who doubles as a Director of PricewaterhouseCoopers…
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Banking sector clean-up: We’re partnering with state agencies on prosecutions- BoG Governor
The Governor of the Bank of Ghana, Dr. Ernest Addison, has expressed some reservations about the processes being used in the prosecution of officials found culpable in the banking sector crisis. He however says although the banking sector regulator has no control over the judicial processes, it is collaborating with the relevant state agencies to…
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Receiver to publish names of debtors to collapsed Microfinance Companies
Mr. Eric Nana Nipah, the Receiver of the collapsed 347 defunct Microfinance Companies and 23 Savings and Loans and Finance House Companies, is urging individuals, groups and institutions who took loan facilities from the microfinance firms to repay the loans immediately. According to him, he will soon publish the first list of recalcitrant defaulters and…
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Receiver to pay outstanding locked up funds after 2nd level validation in May – Gov’t
Government says the receiver of the defunct Microfinance companies and savings and loans firms is set to complete a second level of validation processes to pay all affected customers whose funds were locked up after the Bank of Ghana revoked the licenses of the institutions. This follows an initial validation and payment of some 5…