Thank Mahama for govts decision to pay you – Amaliba to customers of failed Microfinance

Private legal practitioner and a member of the National Democratic Congress (NDC), Abraham Amaliba, has said the decision by the government to pay all customers of the collapsed Microfinance Companies their deposits may be resultant of the NDC’s promise to pay depositors should the party be elected in the December polls.

Mr Amaliba said the government was unwilling to address the needs and concerns of the customers regarding the matter until after the NDC’s flagbearer, John Mahama promised to pay them.

To that end, he said, the customers and Ghanaians, in general, should thank Mr Mahama for the latest twist.

The government has said in line with its commitment to protect depositors funds and to shore up public confidence in the financial system, it has made available to the Receiver of the failed Micro Finance Companies as well as the Official Liquidator of the Micro Credit Companies in official liquidation a combination of cash and commercial paper totalling approximately GH¢6.49billion to fully settle the valid depositor claims.

This was contained in a press statement released on Tuesday, September 15.

“As the Receiver/Official Liquidator brings the processing and payment of valid depositor claims to closure, a total amount of approx GH¢6.07billion has been paid to some depositors of these resolved companies, leaving an amount of approx. GH¢402million to be paid to the remaining depositors, to fully settle all valid depositor claims in the resolution process. It should be noted that these claims include validated claims previously assessed by the Receiver/Official Liquidator as Late Submission claims owing to the fact that they were submitted after the extended deadline for the submission of depositor claims in the resolution process."