Banking crisis: Receiver of 347 Micro Finance Institutions lists properties for auction

The Receiver of the 347 Microfinance Institutions (“MFIs”) and 23 Savings and Loans, and Finance Houses that collapsed or had their licenses revoked, is calling for bids from the general public on some properties belonging to the financial institutions.

In a signed statement Eric Nana Nipah, the Receiver has asked interested parties in Landed Properties of the defunct financial institutions to submit their bids before Friday, March 26, 2021, for consideration.

The Bank of Ghana on Friday, May 31, 2019, announced it had revoked the operating licenses of some 347 microfinance institutions across the country and instituted similar action against some 39 microcredit operators.

According to the central bank, some of the affected institutions had become insolvent whilst others had been out of operation for some time.

Eric Nana Nipah who was appointed Receiver of the collapsed intuitions and mandated to secure all assets of the resolved companies and maximise their realisation for the benefit of creditors, is asking bidders to forward their bids in a signed and dated formal letter through the address: The Receiver, No. 54 Olusegun Obasanjo Highway, Opposite Accra Girls Senior High School, Accra.”

The properties listed for auction by the Receiver include parcels of land and buildings. Some of the properties are situated in both Accra and Takoradi for some of the companies.

See the full list of properties available for auction below: