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Business News of Tuesday, 8 November 2016


Aggrieved DKM customers threaten to hit the street

Some customers of DKM Microfinance Company have threatened to hit the street on Friday November 11, if the Official Liquidator of the company fails to rectify all anomalies related to the payment of their locked up cash.

The Official Liquidator for DKM, the Registrar General’s Department, yesterday November 7, told Citi Business News, all aggrieved customers will receive their monies by the end of this week.

The Principal Company Inspector for the Official Liquidator, Jones Nathaniel Ansah explained that work is ongoing to resolve all anomalies, as well as compile the final list of customers whose names did not appear on an earlier list.

But speaking to Citi Business News, spokesperson for the DKM customers, Mohammed Ibn Issaka, expressed dissatisfaction with the turnout of events, blaming the Registrar General’s Department for the delay in rectifying the anomalies.

“We don’t trust them anymore because some time past the same promises were given to us, only for us to go there for the names to be released but it did not have majority of the customers on the list. We intend embarking on demonstration because things are too silent,” he charged.

He was of the view that the inability of the Official Liquidator to keep its promise has eroded the confidence the aggrieved customers have in the Registrar General’s Department.

“They keep promising us that they are still doing the validation and we do not know when the list will be out. We intend embarking on demonstration because things are too silent,” he reiterated.

He warned that the customers will use all legitimate means available to get their investment back.

Background of DKM debacle

Thousands of customers of DKM Microfinance Company lost their investments, running into millions of cedis after the company was declared bankrupt for wrongfully investing its funds.

The customers thronged to the offices of the company in different parts of the country demanding their investments after the news of the bankruptcy went viral on social media and mainstream media.

The BoG stepped in and confiscated all the assets of the company and announced a liquidation process to reimburse the customers.