PRESIDENT AKUFO-ADDO DIRECTS PAYMENT OF DEPOSITORS OF 347 COLLAPSED MICROFINANCE COMPANIES

• This is in a Christmas message by the President, Nana Addo Dankwa Akufo-Addo in which he directed the Ministry of Finance to work with the Bank of Ghana to ensure that depositors claims are paid in full.

• The Receiver of the collapsed financial institutions had placed ¢10,000 cap on the amounts to be paid to the customers.

• The President while asking Ghanaians to celebrate Christmas festivities responsibly also touched on investments in the road sector, strengthening accountability agencies to fight corruption and the need for next year’s polls to be conducted in a free, fair and transparent manner.


PRESIDENT, NANA ADDO DANKWA AKUFO-ADDO

This is in a Christmas message by the President, Nana Addo Dankwa Akufo-Addo in which he directed the Ministry of Finance to work with the Bank of Ghana to ensure that depositors claims are paid in full.


THE PRESIDENT WHILE ASKING GHANAIANS TO CELEBRATE CHRISTMAS FESTIVITIES RESPONSIBLY ALSO TOUCHED ON INVESTMENTS IN THE ROAD SECTOR, STRENGTHENING ACCOUNTABILITY AGENCIES TO FIGHT CORRUPTION AND THE NEED FOR NEXT YEAR’S POLLS TO BE CONDUCTED IN A FREE, FAIR AND TRANSPARENT MANNER.

The Receiver of the collapsed financial institutions had placed ¢10,000 cap on the amounts to be paid to the customers.


The President while asking Ghanaians to celebrate Christmas festivities responsibly also touched on investments in the road sector, strengthening accountability agencies to fight corruption and the need for next year’s polls to be conducted in a free, fair and transparent manner.



The Bank of Ghana on May 31, 2019 announced its revocation of the licences of 347 Microfinance Companies in the country for insolvency.


Below is a list of all the affected banks.


Microfinance Companies – Insolvent


Name of institution

1. 1ST EYE MICROFINANCE COMPANY LIMITED

2. ABEPA MICROFINANCE LIMITED

3. ACEA MICROFINANCE CO. LIMITED

4. ADOM SIKA MICROFINANCE LIMITED

5. ADVALUE MICROFINANCE LIMITED

6. AE MICROFINANCE COMPANY LIMITED

7. AF MICROFINANCE COMPANY LIMITED

8. AFRIQUE CAPITAL MICROFINANCE LIMITED

9. AKAD MICROFINANCE LIMITED

10. AKI MICROFINANCE COMPANY LIMITED

11. ALL GHANA MICROFINANCE LIMITED

12. ALL INCLUSIVE MICROFINANCE LIMITED

13. ALLIANCETRUST MICROFINANCE LIMITED

14. AMISGOLD MICROFINANCE SERVICES LIMITED

15. A-N MICROFINANCE SERVICES LIMITED

16. A-ONE TRUST MICROFINANCE SERVICES LIMITED

17. APPIADUMAN MICROFINANCE LIMITED

18. ASPET-A MICROFINANCE LIMITED

19. A-STAR MICROFINANCE LIMITED

20. AXIS DIRECT MICROFINANCE COMPANY LIMITED

21. BENKOSON MICROFINANCE LIMITED

22. BEST MICROFINANCE SERVICES LIMITED

23. BLUEHILLS MICROFINANCE LIMITED

24. BOAFO NE NYAME MICROFINANCE LIMITED

25. BODEV MICROFINANCE LIMITED

26. BOIN MICROFINANCE LIMITED

27. BONAMAX MICROFINANCE COMPANY LIMITED

28. BRITE LIFE MICROFINANCE LIMITED

29. BROADVIEW CAPITAL MICROFINANCE LIMITED

30. CAPITAL AND MORE MICROFINANCE COMPANY LIMITED

31. CAPITAL CONNECT MICROFINANCE LIMITED

32. CASH MULTITRUST MICROFINANCE LIMITED

33. CASHPHASE MICROFINANCE COMPANY LIMITED

34. CASHPLUS MICROFINANCE LIMITED

35. CHRISTIAN COMMUNITY MICROFINANCE LIMITED

36. CITIZEN CAPITAL MICROFINANCE LIMITED

37. CITY CREDIT MICROFINANCE LIMITED

38. CONNECT CAPITAL MICROFINANCE LIMITED

39. COTTAGE MICROFINANCE LIMITED

40. CREDABILITY INVESTMENT AND MICROFINANCE LIMITED

41. CROWN CAPITAL MICROFINANCE LIMITED

42. CROWN HOUSE MICROFINANCE LIMITED

43. CYMAIN CAPITAL MICROFINANCE LIMITED

44. CYPRESS MICROFINANCE COMPANY LIMITED

45. DAHINSHELI MICROFINANCE LIMITED

46. DAILY CAPITAL MICROFINANCE LIMITED

47. DATACASH MICROFINANCE LIMITED

48. DBM MICROFINANCE LIMITED

49. DELIGHT MICROFINANCE COMPANY LIMITED

50. DES MICROFINANCE LIMITED

51. DOLPHIN MICROFINANCE SERVICES LIMITED

52. DONEWEALTH MICROFINANCE LIMITED

53. DOVE MICROFINANCE COMPANY LIMITED

54. DPF MICROFINANCE LIMITED

55. D-VANC MICROFINANCE LIMITED

56. DWETIRE MICROFINANCE LIMITED

57. EASYFAST MICROFINANCE LIMITED

58. EBENEZER MICROFINANCE COMPANY LIMITED

59. ECLIPSE MICROFINANCE LIMITED

60. EMEFS MICROFINANCE LIMITED

61. EMERALF MICROFINANCE LIMITED

62. EMERGE MICROFINANCE LIMITED

63. EMETON MICROFINANCE SERVICES LIMITED

64. EMPIRE CREDIT MICROFINANCE LIMITED

65. EMWL MICROFINANCE COMPANY LIMITED

66. ET MICROFINANCE LIMITED

67. EVERGREEN MICROFINANCE LIMITED

68. EXPRESSWAY MICROFINANCE LIMITED

69. FAST TRACK CAPITAL MICROFINANCE LIMITED

70. FINANCIAL REPUBLIC MICROFINANCE COMPANY LIMITED

71. FINO MICROFINANCE LIMITED

72. FIRST CALL MICROFINANCE COMPANY LIMITED

73. FIRST LIBERTY MICROFINANCE LIMITED

74. FOUNTAINGATE MICROFINANCE LIMITED

75. FRONTIER CAPITAL MICROFINANCE LIMITED

76. FRONTLINE MICROFINANCE LIMITED

77. FTS CAPITAL MICROFINANCE LIMITED

78. FUTURE LEADERS MICROFINANCE LIMITED

79. GAB MICROFINANCE LIMITED

80. GAD MICROFINANCE LIMITED

81. GALAXY MICROFINANCE LIMITED

82. GEO MULTI MICROFINANCE LIMITED

83. GG CREDIT MICROFINANCE COMPANY LIMITED

84. GHABSY MICROFINANCE LIMITED

85. GIANT STEPS MICROFINANCE SERVICES LIMITED

86. GLOBAL FEED MICROFINANCE LIMITED

87. GLOBAL TRUST MICROFINANCE SERVICES LIMITED

88. GOD IS PERFECT MICROFINANCE LIMITED

89. GOLDMAN CAPITAL MICROFINANCE CO. LIMITED

90. GREAT NATION MICROFINANCE LIMITED

91. GREENFIELD MICROFINANCE SERVICES LIMITED

92. HEGIS MICROFINANCE LIMITED

93. HERITAGE MICROFINANCE LIMITED

94. HODIDI MICROFINANCE COMPANY LIMITED

95. HOME SUPPORT AND ALLIED MICROFINANCE LIMITED

96. IDOS MICROFINANCE LIMITED

97. INTEGRITY CAPITAL MICROFINANCE LIMITED

98. JCF CONSUMER MICROFINANCE LIMITED

99. JDC MICROFINANCE COMPANY LIMITED

100.JEFAM MICROFINANCE COMPANY LIMITED

101.JIDAI MICROFINANCE LIMITED

102.JW MICROFINANCE LIMITED

103.KINGDAVE MICROFINANCE LIMITED

104.KINGSBRIDGE MICROFINANCE LIMITED

105.KKA EMPIRE MICROFINANCE LIMITED

106.KWAHU MICROFINANCE COMPANY LIMITED

107.LAKE VIEW MICROFINANCE LIMITED

108.LEGEND MICROFINANCE CO. LIMITED

109.LIBERTY DMI MICROFINANCE LIMITED

110.LIBERTY TRUST MICROFINANCE LIMITED

111.LJ CASHPLUS MICROFINANCE LIMITED

112.LLOYDS CAPITAL MICROFINANCE LIMITED.

113.MACE MICROFINANCE LIMITED

114.MASADAR MICROFINANCE LIMITED

115.MELBOND MICROFINANCE LIMITED

116.MERIDIAN MICROFINANCE LIMITED

117.MICAID MICROFINANCE COMPANY LIMITED

118.MOP MICROFINANCE LIMITED

119.MULTI MONEY MICROFINANCE COMPANY LIMITED

120.MULTIBILITY MICROFINANCE LIMITED

121.NAS MICROFINANCE COMPANY LIMITED

122.NATIONWIDE MICROFINANCE LIMITED

123.NEW BUSINESS MICROFINANCE LIMITED

124.NEW IMAGE MICROFINANCE LIMITED

125.NEW WAYS MICROFINANCE LIMITED

126.NKOSUO MICROFINANCE LIMITED

127.NO. 1 MICROFINANCE COMPANY LIMITED

128.OFS MICROFINANCE COMPANY LIMITED

129.OPTIMAL MICROFINANCE LIMITED

130.OSOMUFO MICROFINANCE LIMITED

131.OVAL MICROFINANCE LIMITED

132.PARAGON MICROFINANCE COMPANY LIMITED

133.PATHWAY MICROFINANCE LIMITED

134.PEARLHOUSE GHANA MICROFINANCE LIMITED

135.PEESAM MICROFINANCE LIMITED

136.PEREBRIM MICROFINANCE COMPANY LIMITED

137.PLANET MICROFINANCE LIMITED

138.PLANTERS CAPITAL MICROFINANCE COMPANY LIMITED