Customers of collapsed microfinance institutions to be paid from Monday.

by - 1 min

President Akuffo-Addo during his state of the nations address hinted that customers of micro finance companies which were collapsed some months back would receive payment for their monies starting Monday February 24,2020.

He said that some GHC 5 billion has been released to the receiver to pay these customers. The financial sector in 2017 went on a clean up to check finance institutions which were not supposed to be in operation and this resulted in the closure of many finance institutions.

The president added that all depositors of saving and loans and micro finance institutions including DKM which collapsed in 2015 will receive full payment thus 100% of the monies which were deposited to these organizations.