Home Business License revocation: Gov’t would make readily available in excess of ¢900m to...

License revocation: Gov’t would make readily available in excess of ¢900m to pay affected shoppers


The Receiver of 386 collapsed microfinance businesses has disclosed that government has created obtainable more than ¢900 million to fork out off 1.2 million depositors and lenders. 

Eric Nana Nipah of PricewaterhouseCoopers said, an evaluation of the overall financial debt displays there is about ¢1.1 billion to be paid. 

The Lender of Ghana (Bathroom) has revoked the licences of 386 insolvent microfinance and microcredit firms. 

These include 192 microfinance businesses owning their licences revoked with another 155 insolvent providers that have ceased operations also suffering the very same fate.

The Central Lender in a press release Friday also revoked the licences of 29 insolvent microcredit businesses.

Connected: Licences of 386 monetary establishments revoked

According to the Central Bank’s estimation, after watchful validation of the debt, ¢900 million will suffice in settling the influenced consumers.

The Receiver claims the volume provided by governing administration can pay the vast majority of the retail shoppers validated.

Eric Nana Nipah claims he will acquire 10 days to evaluate all the property and liabilities of the collapsed establishments and acquire him a further 30 times to procedure and validate depositors and creditors promises. 

Soon after his assessment, payment will start at selected Consolidated Lender of Ghana (CBG) branches.

Mr Nipah is assuring depositors that their monies will be paid out from the sum authorities has earmarked for the procedure, although lenders will be place in a different group and be paid out dividends.

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