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Business News of Wednesday, 24 June 2020

Source: Peace FM

Receiver to publish names of debtors to collapsed microfinance firms


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The Receiver for the purposes of winding down the affairs of 347 insolvent Microfinance Companies and 23 Savings and Loans and Finance House Companies who had their operating licenses revoked on 31 May 2019 and 16 August 2019, has asked all borrowers and loan defaulter of the said institutions to begin processes to settle their outstanding obligations.

A statement copied Peacefmonline.com Tuesday 23rd June 2020, read, "the Receiver wishes to notify the general public especially persons/institutions who took loan facilities from these defunct companies to visit any of the maintained branches of these institutions for repayment of the loans immediately."

Attached to the release were 23 branches, account numbers, and mobile money numbers, which are also available on ghreceiverships.com.

"The Receiver encouraged all defaulters to settle their outstanding obligations to the defunct companies through the respective MTN MoMo numbers and receivership bank accounts listed."

The statement added that "the Receiver will pursue all recalcitrant defaulters through all available means as permitted by the Act including, but not limited to, legal actions and publishing names of recalcitrant defaulters in national and international newspapers.

In this regard, the Receiver will soon publish the first list of recalcitrant defaulters and their respective addresses in the national dailies."

Read Statement Below

IN THE MATTER OF THE BANKS AND SPECIALISED DEPOSIT-TAKING INSTITUTIONS ACT, 2016 (ACT 930)

AND

IN THE MATTER OF THE RECEIVERSHIPS OF THE 347 MICROFINANCE COMPANIES AND THE 23 SAVINGS & LOANS AND FINANCE HOUSE COMPANIES

NOTICE TO ALL BORROWERS AND LOAN DEFAULTERS

Pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) (“the Act”), Bank of Ghana ("BoG") on 31 May 2019 and 16 August 2019 revoked the operating licenses of 347 insolvent Microfinance Companies and 23 Savings and Loans and Finance House Companies respectively, and in accordance with Section 123(2) of the appointed Eric Nana Nipah, a Director of PricewaterhouseCoopers Ghana Limited (“PwC”) as the Receiver for the purposes of winding down the affairs of these companies.

Section 127 (3) of the Act mandates the Receiver to realize all assets of the resolved companies, including outstanding loans and advances, for the benefit of creditors.

Accordingly, the Receiver wishes to notify the general public especially persons/institutions who took loan facilities from these defunct companies to visit any of the maintained branches of these institutions for repayment of the loans immediately. (for a list of the maintained branches, please visit the Receiver’s website: www.ghreceiverships.com)

Customers may settle their outstanding obligations to the defunct companies through the respective MTNMoMo numbers and/or receivership bank accounts listed on the adjacent tables. The Receiver would like to entreat all borrowers to cooperate with his authorized representatives/agents in this regard.

Borrowers are to note that, the Receiver will pursue all recalcitrant defaulters through all available means as permitted by the Act including, but not limited to, legal actions and publishing names of recalcitrant defaulters in national and international newspapers. In this regard, the Receiver will soon publish the first list of recalcitrant defaulters and their respective addresses in the national dailies.

Please note that the working hours for the maintained branches of the defunct companies remain from 8:00 am to 5:00 pm, Mondays to Fridays.

For further information on the Loan Repayments, please call 024 243 9441/ 0550000966. You may also write to the;

The Receiver,

25 B Manet Towers

PMB CT42, Cantonments

Accra, Ghana

www.ghreceiverships.com

SGD

ERIC NANA NIPAH

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