Month: February 2021

AUCTION SALES! AUCTION SALES!! AUCTION SALES!!!

AUCTION SALES! AUCTION SALES!! AUCTION SALES!!! A consortium of Auctioneers (Wildos Mart, Broadway Mart, and Yakamata Mart) appointed by the Receiver of the resolved 347 Microfinance Companies (“MFIs”) and the 23 Savings & Loans and Finance House Companies (“S&Ls”) wishes to inform the general public of an auction sale of the chattels of the resolved companies. The sale of the chattels of the resolved MFIs and S&Ls will be conducted at the respective branches of the resolved MFIs and 23 S&Ls across the 16 regions from Monday 8 March 2021 until all items are sold out. Chattels to be auctioned include air conditioners – split/window, desk-top computers, fridges, water dispensers, swivel chairs, executive office tables/chairs, leather sofas, couches, flat screen television sets and generators. All interested buyers may contact any of the appointed auctioneers whose details are shown in the table below, or the Receiver’s representative on 0247143593/0202731441, if any further information is required: AUCTIONEER CONTACT Wildos Mart 0244381303 Broadway Mart 0246004242 Yakamata Mart 0243668984 Conditions and Payment Modalities:       Strictly Cash down at the fall of the gavel or item will be re-auctioned. “As is where is” Highest bidder shall be the purchaser.

ENSURE PERPETRATORS OF COLLAPSED BANKS FACE THE LAW IN SECOND TENURE – BOG GOVERNOR URGED

Banking Consultant, Nana Otuo Acheampong has admonished Governor of the Bank of Ghana, Dr Ernest Addison, to ensure during his second tenure that persons behind the collapse of indigenous Ghanaian banks in 2017 face the law. According to him, many depositors of these collapsed banks are still faced with uncertainties and hardship as a result of the collapse. In an interaction with Citi Business News, Nana Otuo Acheampong pointed out that though some owners and managers of insolvent banks have been charged and granted bail by a court, it is still not enough. “On resolving the banks that had toxic loans, people are still waiting for some answers as to what happens to those who caused those toxic loans to be contracted in the first place,” he stressed. “We know that one or two people are already in court, but is that all? For those in court, how soon are we going to see results? So those are some of the tasks he has ahead of him or he should have on his desk to attend to,” Otuo Acheampong lamented. The renowned banking consultant urged the governor to commit time and resources towards expediting the process leading to the apprehension of all persons involved in the ruin of banks. In 2017 banks such as UT Bank, UniBank, Royal, Construction, Beige, Sovereign, Heritage and Premium banks had their licenses revoked and subsequently consolidated into one bank. Two others were also handed over to the Ghana Commercial Bank. The regulatory crackdown of these collapsed banks was based on poor business practices and weak capital positions resulting in a series of market exits.