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Business News Mon, 19 Aug 2019

Collapsed MFIs: More depositors to be paid this week — Receiver

More customers of the 347 microfinance companies that had their licenses revoked on May 31, 2019, will be paid this week, the receiver appointed by the Bank of Ghana has revealed.

The receiver, Eric Nana Nipah — a Partner at PwC, speaking on the Citi Breakfast Show on Monday morning admitted that claims payments to customers have been slower and promised that customers have every right to be hopeful this week as the PwC steps up the process.

“In terms of payments, it’s been one area that you should expect more from us. We have done introspection and we think that from this week onward we achieve a greater payout ratio,” Mr. Nipah said.

According to him, so far more than 150,000 depositors have submitted their claims which amounts to about GH¢1.4 billion. Out of the total claims made, an amount of GH¢600 million has been verified out of which GH¢90 million have been paid out.

The comments of the receiver come after dozens of listeners last week called into the Citi Breakfast Show to complain about the pace of the receivership process which they said has been painstakingly slow.

Not only did the receiver assure that the process will pick up this week, but he also revealed that priority will be given to customers who have funds below GH¢10, 000.

Source: citibusinessnews.com
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