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Don’t sideline us, uncover our info and spend us – prospects of collapsed microfinance firms beg receiver


Consumers of collapsed microfinance businesses say they have been sidelined in the payment of locked-up resources regardless of government’s directive to the receiver to pay.

Because the directive, the aggrieved associates observe that only affected cost savings and loans shoppers have benefited so considerably.

The receiver in August this 12 months defined that the delay is for the reason that it is unable to accessibility their details, the management of the affected microfinance businesses say the development is a ploy to deny them their investments.

“No Pay- No Vote”, is the chorus of their chants as they converged at the kumasi centre for lifestyle to finds lasting approaches to retrieve their money.

These are some of users of the thirty 4 microfinance institutions whose money are locked up right after their collapse.

They represent more than 14,000 statements amounting to above 200 million ghana cedis in investments locked up.

Final thirty day period, the receiver claimed it is not able to retrieve data from 34 microfinance establishments that collapsed from 2012 to 2019.

“Since the govt gave the directives for the receiver to fork out us (microfinance and cost savings and loans companies) , it seems the receiver is playing tips that he doesn’t have our facts.

We are not custodian of the knowledge so why are they telling us they never have the data. They are professing they have compensated 98 percent which is not real due to the fact all of us have not gained even a penny.”

According to the team, they went as a result of a manual validation exercising in 2018.

“In 2018 they validated us in a manual validation training so for the receiver to turn all over and say they do not have our knowledge is neither in this article nor there. Lender of Ghana ought to have the info or get in touch with the board of administrators and management whose aspects are public and with the Financial institution of Ghana.

Considerably less than a month in the past, the team claims they ended up compelled to compile a fresh new register and submitted but have not received any favourable responds until now.

“Any registered institutions that is registered have the knowledge of the board of administrators with financial institution of Ghana, so if you can not uncover our facts, get them. The CEO of NOBLE Dreams is in Accra, so they must get him.

We are telling Nana Addo that the receiver is taking part in with technicalities. The receiver need to uncover it and spend us. We require our funds,” one claimed.

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