20 collapsed microfinance firms to settle depositors with own funds – Receiver

General News of Monday, 19 August 2019

Source: citinewsroom.com

2019-08-19

Receiver for collapsed Microfinance and Microcredit institutions, Eric Nipah

Some of the collapsed microfinance companies say they will be paying customers their full deposits, according to their Receiver.

Eric Nipah, Receiver for the Microfinance and Microcredit institutions whose licences were revoked in May, said about 20 of them have assured that “they are willing and able to make a 100 per cent payment to all their creditors, including depositors.”

Mr. Nipah added that his outfit was “satisfied they [the microfinance companies] have the means to pay 100 percent of their total liabilities.”

“The value of these deposits; those that have been received, are in excess of GH¢100 million. So this sub-segment of the depositor base relates to operators who have come out to say that they do not need government funds to settle their depositor obligations.”

Credit: Source link

Share: