Home   >   Business   >   Business News   >   201601
Reopen Microfinance Companies Shut Down By Bog Or Else ...   
 
  << Prev  |  Next >>
 
07-Jan-2016  
Comments ( 0 )     Email    Print
       
 
 
 
 
 
Related Stories
 
Customers of some recently-closed microfinance institutions in Berekum in the Brong Ahafo Region embarked on a demonstration on Wednesday to protest the decision of the Bank of Ghana (BoG) to revoke the licences of those institutions, stressing that their monies were locked up there.

The customers, numbering over hundred and draped in red and black attire, held placards with inscriptions such as, 'No money no vote in 2016' and 'Mr President, protect your people'.

The demonstration comes a day after the BoG revoked the licences of 70 money lending and microfinance companies.

Some of the companies that have been stopped from operating include Mckeown Microfinance Limited, City Trust, Ezi Access Microfinance, Agapet Micro-finance First Unity Microfinance Limited and Golden Life Microfinance Limited.

The BoG said the 70 companies were issued license in July 2015 but had failed to meet all the requirements to be given the final approval to operate.

In an interview with Accra-based Joy FM, Alex Obeng, the leader of the demonstrators, said they were demonstrating because life had become so tough and nobody was willing to help them retrieve their monies.

He said: ‘’Now we don’t know where to go and the people are suffering. Even for the academic year last year, most of the children in Berekum couldn’t go to school. Most of their marriages are collapsing; the divorce is increasing, the high pressure, hypertension and so many things.

“People are hanging themselves others are committing suicide. Nobody cares for us. We have been meeting the regional security council, we have met the Bank of Ghana."

Mr Obeng said: “We have petitioned President [but] nothing is going on, so are we demonstrating to tell the world, to tell the people that the situation in Berekum is unbearable and we need our money back until we get our money back we are not going to sit down for people to collect our money and connive with Bank of Ghana and misuse our money while we are suffering’’.

He warned that if their monies were not returned to them within two weeks, they would not vote in 2016 and would also prevent all banks in Berekum from operating.
 
 
Source: Daily Graphic
 
 

Comments ( 0 ): Post Your Comments >>

 
 
 
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
 
 
Featured Video