Scores of aggrieved customers of shutdown microfinance company DKM today, Thursday April 21, thronged the offices of the public works department at Wa in the Upper West region to show proof of their engagements with the company to a liquidator engaged to sell its properties.
As part of measures to offset debts owed by the troubled financial firm, the Bank of Ghana last week appointed Jemima Oware as a liquidator.
The liquidation of assets of the company became imperative after failure by management to refund deposits and accrued interests of aggrieved customers. The Liquidator subsequently served notice to creditors to lodge their claims with her with better proof.
DKM had its operations suspended by the central bank after it violated the Banking Act by undertaking operations deemed detrimental to the interest of depositors. Various attempts by customers of DKM and some other Microfinance companies to retrieve their monies have been unsuccessful for almost 12 months.
The BOG had earlier directed the companies to show proof of secured funds, bank balances and a plan for payment of outstanding depositors’ funds or risk liquidation of assets but the companies have not been able to meet the BOG’s terms. The BOG has thus decided to sell off all its assets to settle outstanding debts.