Business News Fri, 14 Aug 2015

Deposits are secured; Micro Finance assures customers

The management of Sunyani-based microfinance company DKM Diamond has assured its customers their deposits are secured.

This comes after the Central Bank extended a 90-day moratorium placed on the company by 30 more days to allow the company streamline its operations to protect customer deposits.

The action was taken by the Bank of Ghana following concerns the microfinance company was operating outside its remit.

Speaking with Joy Business, Chief Executive Officer Martin Delle said the company is on course to meet the Bank of Ghana’s directives.

He stated that the Central Bank has given them some documents to respond to and are therefore working hard to meet all of them.


Mr. Delle indicated that the company (DKM) will address all the BoG’s concerns in good time in order to get clearance for resumption of operations.

Some depositors on August 11 staged a demonstration to force the BoG to lift the moratorium saying they had huge amounts of their monies locked up with the company due to the freeze.

“We have already restructured the Board, we have even restructured the management aspect of our operations. The capital the BoG wants us to inject into our operations is also something we are working on to raise.

“We have some banks that we deal with. We also have some investors who are interested in our operations and are willing to help us raise the amount,” Mr. Delle added.

He stressed that DKM has some auxiliary businesses that would help raise the money adding, “customers should be rest assured, DKM will come back into operation soon,” he emphasized.

Source: Myjoyonline.com