DKM Brouhaha: Victims of other defunct financial institution plead for payment

Customers of the four defunct microfinance institutions – Little Drops Financial Services, God is Love Fun Club, Jaster Motors and Investment Limited, and Care for Humanity Fun Club – have pleaded with the government to also pay them their locked-up investments just as has been done for their colleagues who invested with DKM Microfinance Limited.

The spokesperson for the victims of Jaster Motors and the three others, Hannah Ayiwa, said on AccraFM on Friday, 16 November that: “We also have our monies locked up and we plead with the government to pay us, too, just as they are doing for DKM customers.”

Finance Minister Ken Ofori-Atta told parliament when he delivered the 2019 budget on Thursday, 15 November that in addition to the clean-up exercise of the banking sector undertaken by the Bank of Ghana, the government has also taken steps to settle almost all claims of DKM customers.

“Mr Speaker, you would recall that DKM Diamond Microfinance Limited had its licence revoked in February 2016 with considerable suffering imposed on depositors, without any meaningful response from the previous government.

“That has significantly changed.

“The official liquidator received 99,858 claims and the validated claims amounted to GHS502 million.

“I would like to inform the country that out of the 99,858 claims, 79,708 (80 per cent) have been settled and depositors have been paid.

“The government has set aside funds at the Bank of Ghana to pay the remaining 20 per cent of depositors upon validation.

“An additional 12,612 claims have been fully provided for, but the customers have not as yet been able to show proof of deposit.”