Tag: Microfinance sector clean up
-
Microfinance companies seek extension of recapitalisation deadline
Microfinance companies are seeking an extension of the deadline for their recapitalization. Microfinance companies have up to the end of February 2020 to raise 2 million cedis as their new minimum capital requirement. However, the companies say the timing is too short as they are struggling to win investors due to low public confidence in…
-
Receiver issues ultimatum for customers of collapsed MFIs to submit claims
Customers of the collapsed 347 microfinance companies who could not submit their claims for their locked-up funds have been granted more time to do so by the receiver, Eric Nana Nipah. According to a notice issued by the receiver, the customers now have up to Friday 27th September 2019 to submit their claims for validation.…
-
Uniklife Microfinance to begin payment of depositors today
Customers of UnikLife Microfinance in Takoradi will today heave a sigh of relief as managers of the company begin the payment of their deposits. Some 900 accounts will be paid through a process supervised by the receiver of the collapsed microfinance companies, Eric Nana Nipa. UnikLife Microfinance was one of the companies declared insolvent and…
-
Customers of collapsed MFIs may not get full deposits — Eric Nipah
The receiver of the microfinance companies collapsed by the central bank, Eric Nipah, has stated that there is no guarantee that the customers of such financial institutions will be able to retrieve their full deposits lodged. Mr. Nipah speaking in an interview on the Citi Breakfast Show with Bernard Avle stated that the receivership processes…