Georgette Kusi-Boateng and Sam George Acquah Two Directors of Adom Sika Microfinance Limited have been arrested by the Economic and Organized Crime Office (EOCO) for their inability to render account on how depositors’ funds in excess of GH¢150 million were utilized. Sam George Acquah and Georgette Kusi-Boateng were grabbed last Wednesday and subsequently cautioned and […]
The first Deputy Governor of Bank of Ghana, Dr. Maxwell Opoku-Afari has assured the public that the Ministry of Finance, Bank of Ghana and the Receiver have reached an understanding to find a way to unlock funds belonging to Rural Community Banks (RCB) deposited with MFIs. According to him, discussions on modalities are ongoing and once finalized, it would be announced very soon.
Press Release on 347 Micro Finance Companies (“MFCs”) whose licences were revoked on 31 May 2019 by Bank of Ghana Upward Review of Payments to Depositors whose claims have been validated Accra 8th November 2019. Following the revocation of the licences of the 347 Micro Finance Companies (“MFCs”), the Receiver among other things announced a […]
Press Release on the 23 Savings & Loans Companies (“S&Ls”) whose licences were revoked by Bank of Ghana on 16 August 2019 Upward Review of Payments to Depositors whose claims have been validated Accra 8th November 2019. Following the revocation of the licences of the 23 Savings & Loans Companies (“S&Ls”), the Receiver among other […]
96 branches of the 347 microfinance companies placed into receivership remain open for receivership business GREATER ACCRA No. Branches of Microfinance Companies to be maintained Location of Maintained Branch Region GREATER ACCRA REGION 1 ACEA Microfinance Co. Limited Opposite Amasaman Community Hospital, Amasaman Greater Accra 2 Adom Sika Microfinance Limited 52 Mango […]
Accra, Ghana, May 31, 2019 – The Bank of Ghana has, with effect from today, revoked the licences of 192 insolvent microfinance companies (see attached list). In addition, licences of another 155 insolvent microfinance companies that have ceased operations (see attached list) have been revoked.
The Receiver has designated 96 branches of the 347 MicroFinance Companies (MFCs) placed into receivership as operational branches, to serve the customers of these institutions as well as the customers of other MFCs whose licenses have been revoked. This means that, the Receiver’s team will cease to operate from any branch of the affected MFCs which has not been listed.
Notice is hereby given that depositors who have not yet submitted their claim forms should do so on or before Friday 27th September 2019 for validation. After this date, the Receiver will conclude that there are no more outstanding claim forms to be submitted.
The Receiver wishes to inform the general public that effective Friday, 11 October 2019, the branches of the following affected MFCs set out below will remain open to serve the customers of these institutions as well as the customers of other MFCs whose licenses have been revoked.
Notice is hereby given that depositors who have not yet submitted their claim forms should do so on or before Friday 27th September 2019 for validation. After this date, the Receiver will conclude that there are no more outstanding claim forms to be submitted.