Sometimes I wonder why the BoG froze the accounts of those microfinance companies.
Indeed the Brongs contribute a lot to the development of the nation so the government must do its best to avert the situation in the region ... read full comment
Sometimes I wonder why the BoG froze the accounts of those microfinance companies.
Indeed the Brongs contribute a lot to the development of the nation so the government must do its best to avert the situation in the region. Many people have died out of this...
Stephen-Pipes Afrifa 8 years ago
The Brongs should have the best in case of sharing the nation's cake... Many people in the region have died due to this microfinance issues and many depressed. With the resignation of the former BoG boss I don't think there i ... read full comment
The Brongs should have the best in case of sharing the nation's cake... Many people in the region have died due to this microfinance issues and many depressed. With the resignation of the former BoG boss I don't think there is a solution but I wish there were...
I personally have a friend WHO is a victim of this sad news and has really grown lean beating my imagination
Charles 8 years ago
I have different view of this saga. Yes people have lost a lot but this is not the fiirst time. You remember Piram. . What is driving people is simply greed . Where in the wold do financial institutions play interest as much ... read full comment
I have different view of this saga. Yes people have lost a lot but this is not the fiirst time. You remember Piram. . What is driving people is simply greed . Where in the wold do financial institutions play interest as much as 50% per month.
At Berekum, a pastor went on the radio to advise people not to put their money in such institutions. Bank of Ghana took one of them to court and the court ruled in favour of the financial institution.
I do not think is wise for the government to use tax payer money to pay the customer. There is liquiditation process and the customers must go through it.
ghanaman 8 years ago
@Charles You write like a finance professional, and I have little doubt that a finance professional you are.
First, as you arightly recalled, history brings to mind Pyram, who were so bold to choose a company name that bl ... read full comment
@Charles You write like a finance professional, and I have little doubt that a finance professional you are.
First, as you arightly recalled, history brings to mind Pyram, who were so bold to choose a company name that blatantly disclosed their business model, to wit, "Pyramid Scheme'. To the discerning and insightful investor, that was a signal to stay off the company. Charlatans and greedy persons looking for impossibly high returns whilst forgetting the embedded astronomical risk, turned to institutions such as Pyram and Resource 2000. What happened thereafter is history. And as George Santayana correctly observed: "Those who cannot remember the past are condemned to repeat it."
Secondly, you have enumerated the efforts made by a pastor on a radio program at Berekum and even The Bank of Ghana bringing one of the suspicious financial institutions before court, only for the court to rule in favor of the company!
Finally, you infer that the article's original author's intent to rope in the government is misguided and misplaced. You rightly point out that government cannot use taxpayers monies to pay for the trangressions of customers. Caveat emptor, the Latin phrase says. As the banker I presume you are, you are guarded by the reasoning: if it looks too good to be true, it is too good to be true!
For all of the above, you have won my day, Brother Charles!
ghanaman
Dr Ellis 8 years ago
This is a serious issue especially for the clients who have lost their long life savings or working capital. As we know money is scarce nowadays Ghana. The purchasing power of Ghanaians is on the lowest ebb. If the
This is a serious issue especially for the clients who have lost their long life savings or working capital. As we know money is scarce nowadays Ghana. The purchasing power of Ghanaians is on the lowest ebb. If the
Afrifa Richmond 8 years ago
This is an indication that ,there is no proper checkup when it comes to estsblishment of new campanies in Ghana.Were the government not aware for the past five years of their operation ? When the wicked are in authority, the ... read full comment
This is an indication that ,there is no proper checkup when it comes to estsblishment of new campanies in Ghana.Were the government not aware for the past five years of their operation ? When the wicked are in authority, the people mourn,but when the righteous rule,the people rejoice.Ghana have a long way to go.
D. D. Mwadi 8 years ago
The problem has affected the good people of Ghana within and without. Money that were sent on transfer by people both home and abroad from other regions is so huge that we should take a holistic stand on the issue than limiti ... read full comment
The problem has affected the good people of Ghana within and without. Money that were sent on transfer by people both home and abroad from other regions is so huge that we should take a holistic stand on the issue than limiting it to Brong Ahafo region. Location does not matter much in this modern world.
OHENEBA NANA ADU 8 years ago
THIS IS BY FAR ONE OF YOUR BEST ARTICLES I HAVE READ. DETAIL INFORMATION, RICH HISTORY AND DEEP FINANCIAL ANALYSIS, WHICH TO YOUR CREDIT.
i NEVER KNEW THAT YOU POSSESS QUALITY FINANCIAL INFORMATION (APO) LIKE THAT. THE ONLY ... read full comment
THIS IS BY FAR ONE OF YOUR BEST ARTICLES I HAVE READ. DETAIL INFORMATION, RICH HISTORY AND DEEP FINANCIAL ANALYSIS, WHICH TO YOUR CREDIT.
i NEVER KNEW THAT YOU POSSESS QUALITY FINANCIAL INFORMATION (APO) LIKE THAT. THE ONLY ANSWER IS TO VOTE THEM OUT. BUT NDC WITH MAHAMAH AT THE HELM WILL RIG & STEAL THE ELECTION RESULTS, UNDER THE NOSE OF NPP.
KEEP THE GOOD WORK AND GOD RICHLY BLESS YOU.
Atta Poku, USA 8 years ago
The author has done a good job recounting the episode but he needs to rope in President Mahama as the brain behind the huge scam.
The author has done a good job recounting the episode but he needs to rope in President Mahama as the brain behind the huge scam.
G. K. Berko 8 years ago
Concentrate on provable facts to inform the Public by. And stop these childish wild allegations that belittle the subject matter.
While it may sound to you like I am defending the President for Partisan reasons, I would l ... read full comment
Concentrate on provable facts to inform the Public by. And stop these childish wild allegations that belittle the subject matter.
While it may sound to you like I am defending the President for Partisan reasons, I would like to emphasize that I am not NDC member and that the truth has no partisan marks.
Long Live Ghana!!!
OYONO 8 years ago
G K Berko, keep your mouth shut
G K Berko, keep your mouth shut
G. K. Berko 8 years ago
By the way, keeping my mouth shut does not help resolve the issue. And, please, do not be tyrannical. Allow folks to express their views and respond with yours accordingly. Telling others to shut up does not promote democracy ... read full comment
By the way, keeping my mouth shut does not help resolve the issue. And, please, do not be tyrannical. Allow folks to express their views and respond with yours accordingly. Telling others to shut up does not promote democracy.
Have a nice day!
Long Live Ghana!!!
G. K. Berko 8 years ago
Doesn't the so-called Peace Council see anything wrong with this Article? If not, then its entire membership is blind and deaf, or even insensitive to some tribal and ethnic instigation, and only responsive to others for cer ... read full comment
Doesn't the so-called Peace Council see anything wrong with this Article? If not, then its entire membership is blind and deaf, or even insensitive to some tribal and ethnic instigation, and only responsive to others for certain convenience.
What this Article ultimately aims at is priming the Brongs against the Government and other Tribes, with dangerous repercussions in our fragile democratic dispensation.
The fraud that was perpetrated in the Brong Ahafo Region by the crooks in that culpable Financial Institution was not specifically restricted only Brongs in the Region.
The thieves in that Financial outfit did not target Brongs to defraud. Period. And the Government did not orchestrate the fraud, either.
While the Government's response to mitigate the plight of the victims of that fraud may still leaves much to desired, it is totally unconscionable that anyone would resort to such crude and primitive tribal instigation to seek any redress.
There is an element of Political partisan interest embedded in this Article which by itself would have been fine. But linking it to a whole tribe or ethnic group amounts to no less an effect as the Dzifa Attivor incitement of Ewe Voltarians against the NPP.
If nothing at all, the Peace Council must see this as part of a trending National hazard with potential to destabilize the Nation.
Therefore, just as the Peace Council required Dzifa to apologize to the Nation, it should as well take the source of this Article to task.
It is not only the leading Politicians that ought to be sanctioned for such dangerous rhetoric. The Media as well bear responsibility in dealing with this crisis. And the Peace Council must approach any efforts to maintain Peace in the country with wider perspective than displayed with Dzifa's case.
Long Live Ghana!!!
Captain Jean-Luc Picard 8 years ago
I agree with you, G. K. This article only seeks to put blame on Mahama for what is a very Ghanaian weakness that knows no political colours.
The people affected were victims of a scam. The author thinks that Mahama should ... read full comment
I agree with you, G. K. This article only seeks to put blame on Mahama for what is a very Ghanaian weakness that knows no political colours.
The people affected were victims of a scam. The author thinks that Mahama should personally go and solve the problem but the president doesn't have such powers to personally involve himself in every scam perpetrated on a Ghanaian. The system must take care of that. This should be so whether it is NPP or NDC which is in power.
This article deliberately seeks to incite one tribe against another and it is purely partisan but I don't think the Peace Council should in here to do anything. This is ghanaweb that has no standards and it is enough that readers condemn the article for being biased and too partisan.
S. Atta Owusu 8 years ago
G.K Berko, you got it all wrong. There is nowhere in the Article which hammers on tribalism. Don't you sympathise with the customers who have lost millions of cedis.I am not instigating them and I want to advise you not to un ... read full comment
G.K Berko, you got it all wrong. There is nowhere in the Article which hammers on tribalism. Don't you sympathise with the customers who have lost millions of cedis.I am not instigating them and I want to advise you not to underestimate the intelligence of the Brongs. If they will demonstrate against the government, that will not depend on my article. They are wise enough to fight for their money. G.K Berko where did you see tribalism in my article?
J0eY l0NdON 8 years ago
G.K Berko ,had decoded your intended message through your article . What shall the people of Brong Ahafo region be achieving by demonstrating on the streets ? Will demonstrations bring back their money? I think you are ... read full comment
G.K Berko ,had decoded your intended message through your article . What shall the people of Brong Ahafo region be achieving by demonstrating on the streets ? Will demonstrations bring back their money? I think you are indirectly calling for an orange styled of occupying the square uprising,when you are aware, the Ghanaian authorities are still working towards solving the problem amicably ..
G. K. Berko 8 years ago
Are the customers only Brongs? You see, it is how you framed your argument that I have a problem with. I fully sympathize with all victims of such crime. And the solution is to demand better implementation of our Laws rather ... read full comment
Are the customers only Brongs? You see, it is how you framed your argument that I have a problem with. I fully sympathize with all victims of such crime. And the solution is to demand better implementation of our Laws rather than crying some tribal victimization.
Your nomenclature 'The Brongs' does not include other ethnicities or tribes. And that is not synonymous with, say, residents of Brong Ahafo Region.
I am trying to point out how your introduction of the Article suggested that you only saw Brongs as the only folks affected by the fraud.
If we turn every conceivable failure of the Government's into some political issue, we diffuse the aim of the argument.
Long Live Ghana!!!
Kwadwo Boakye 8 years ago
current ruling party cannot help Ghana
current ruling party cannot help Ghana
Banza Yaro 8 years ago
Don't be surprised when just before election, Mahama and his dying NDC will come up with a fast solution to get their votes. Remember what he said? "Ghanaians have a short memory" Lordina will be riding around waving that dec ... read full comment
Don't be surprised when just before election, Mahama and his dying NDC will come up with a fast solution to get their votes. Remember what he said? "Ghanaians have a short memory" Lordina will be riding around waving that deceiving handkerchief saying, I told you so. My husband is on your side.
Ameyaw 8 years ago
The government is taking the Brongs for granted. The Brongs have been so gullible but no fools.
The government is taking the Brongs for granted. The Brongs have been so gullible but no fools.
Kofi Yeboah 8 years ago
Indeed I was there when Lordinna Mahama encouraged the Brongs to patronize DKM. why is she denying this?
Indeed I was there when Lordinna Mahama encouraged the Brongs to patronize DKM. why is she denying this?
Oti Akenteng 8 years ago
The only thing they should do is to vote out this incompetent and corrupt Mahama led administration, is killing Ghanaians.
The only thing they should do is to vote out this incompetent and corrupt Mahama led administration, is killing Ghanaians.
HOPELESS 8 years ago
Now that the governor of Bank of Ghana has resigned, payments to the affected customers have been shrouded in great uncertainty.
Now that the governor of Bank of Ghana has resigned, payments to the affected customers have been shrouded in great uncertainty.
the eye germany 8 years ago
You have, as usual, given a true picture of the bad situation in the region. God richly bless you. Keep it up!
Congratulations from senior Akok.
You have, as usual, given a true picture of the bad situation in the region. God richly bless you. Keep it up!
Congratulations from senior Akok.
Uncle Ebo 8 years ago
Hmmm. Our problems in Ghana continue to compound due to the lack of proactive structures to curtail some of these things. Anyone can take us for granted. Our governments also act only when there is an electoral advantage or o ... read full comment
Hmmm. Our problems in Ghana continue to compound due to the lack of proactive structures to curtail some of these things. Anyone can take us for granted. Our governments also act only when there is an electoral advantage or otherwise.
Bryan 8 years ago
Good article Stephen. Sorry to hear that Ghana has this sort of obvious fraud. Hopefully it will work out in the end.
Good article Stephen. Sorry to hear that Ghana has this sort of obvious fraud. Hopefully it will work out in the end.
AFRIYIE 7 years ago
Director i have knowing people from Kumasi she has loss a big money from DKM people. a lot of people die about that money president don't care about in Brog Ahafo.
Director i have knowing people from Kumasi she has loss a big money from DKM people. a lot of people die about that money president don't care about in Brog Ahafo.
Rubbish, rubbish and blablabla. No substance !!!
Sometimes I wonder why the BoG froze the accounts of those microfinance companies.
Indeed the Brongs contribute a lot to the development of the nation so the government must do its best to avert the situation in the region ...
read full comment
The Brongs should have the best in case of sharing the nation's cake... Many people in the region have died due to this microfinance issues and many depressed. With the resignation of the former BoG boss I don't think there i ...
read full comment
I have different view of this saga. Yes people have lost a lot but this is not the fiirst time. You remember Piram. . What is driving people is simply greed . Where in the wold do financial institutions play interest as much ...
read full comment
@Charles You write like a finance professional, and I have little doubt that a finance professional you are.
First, as you arightly recalled, history brings to mind Pyram, who were so bold to choose a company name that bl ...
read full comment
This is a serious issue especially for the clients who have lost their long life savings or working capital. As we know money is scarce nowadays Ghana. The purchasing power of Ghanaians is on the lowest ebb. If the
This is an indication that ,there is no proper checkup when it comes to estsblishment of new campanies in Ghana.Were the government not aware for the past five years of their operation ? When the wicked are in authority, the ...
read full comment
The problem has affected the good people of Ghana within and without. Money that were sent on transfer by people both home and abroad from other regions is so huge that we should take a holistic stand on the issue than limiti ...
read full comment
THIS IS BY FAR ONE OF YOUR BEST ARTICLES I HAVE READ. DETAIL INFORMATION, RICH HISTORY AND DEEP FINANCIAL ANALYSIS, WHICH TO YOUR CREDIT.
i NEVER KNEW THAT YOU POSSESS QUALITY FINANCIAL INFORMATION (APO) LIKE THAT. THE ONLY ...
read full comment
The author has done a good job recounting the episode but he needs to rope in President Mahama as the brain behind the huge scam.
Concentrate on provable facts to inform the Public by. And stop these childish wild allegations that belittle the subject matter.
While it may sound to you like I am defending the President for Partisan reasons, I would l ...
read full comment
G K Berko, keep your mouth shut
By the way, keeping my mouth shut does not help resolve the issue. And, please, do not be tyrannical. Allow folks to express their views and respond with yours accordingly. Telling others to shut up does not promote democracy ...
read full comment
Doesn't the so-called Peace Council see anything wrong with this Article? If not, then its entire membership is blind and deaf, or even insensitive to some tribal and ethnic instigation, and only responsive to others for cer ...
read full comment
I agree with you, G. K. This article only seeks to put blame on Mahama for what is a very Ghanaian weakness that knows no political colours.
The people affected were victims of a scam. The author thinks that Mahama should ...
read full comment
G.K Berko, you got it all wrong. There is nowhere in the Article which hammers on tribalism. Don't you sympathise with the customers who have lost millions of cedis.I am not instigating them and I want to advise you not to un ...
read full comment
G.K Berko ,had decoded your intended message through your article . What shall the people of Brong Ahafo region be achieving by demonstrating on the streets ? Will demonstrations bring back their money? I think you are ...
read full comment
Are the customers only Brongs? You see, it is how you framed your argument that I have a problem with. I fully sympathize with all victims of such crime. And the solution is to demand better implementation of our Laws rather ...
read full comment
current ruling party cannot help Ghana
Don't be surprised when just before election, Mahama and his dying NDC will come up with a fast solution to get their votes. Remember what he said? "Ghanaians have a short memory" Lordina will be riding around waving that dec ...
read full comment
The government is taking the Brongs for granted. The Brongs have been so gullible but no fools.
Indeed I was there when Lordinna Mahama encouraged the Brongs to patronize DKM. why is she denying this?
The only thing they should do is to vote out this incompetent and corrupt Mahama led administration, is killing Ghanaians.
Now that the governor of Bank of Ghana has resigned, payments to the affected customers have been shrouded in great uncertainty.
You have, as usual, given a true picture of the bad situation in the region. God richly bless you. Keep it up!
Congratulations from senior Akok.
Hmmm. Our problems in Ghana continue to compound due to the lack of proactive structures to curtail some of these things. Anyone can take us for granted. Our governments also act only when there is an electoral advantage or o ...
read full comment
Good article Stephen. Sorry to hear that Ghana has this sort of obvious fraud. Hopefully it will work out in the end.
Director i have knowing people from Kumasi she has loss a big money from DKM people. a lot of people die about that money president don't care about in Brog Ahafo.