Customers of Uniklife Microfinance express satisfaction in steps taking by the owners of the embattled Takoradi based financial institution to return their investments and savings to them peacefully in no time.
This comes on the back of a general meeting calls by the Board of Directors and Management of Uniklife Microfinance on Thursday, August 15, 2019 at the banking hall in Takoradi to update their cherished customers on how far they have gotten to with their engagements with the Bank of Ghana (BoG) and Price Water House Coopers (PWC) who are the receivers, all in the bid to ensure that none of their customers loses a dime in the actions being taking by the BoG to streamline financial institutions in Ghana.
Addressing over two hundred customers and depositors the Executive Director of Uniklife Microfinance Limited who is also the CEO for the Focus 1 Media Group Kwame Adu Mante thanked the customers for continuously keeping faith with the business and assured them that plans are far advanced to fulfill all legal requirements and obligations from the BoG to allow them access to their system in order to release their monies to them.
“We are all not too excited about how things are turning out but we (management) very much appreciate your cooperation in finding lasting solution to this force landing of our financial institution. At this point, PWC has giving us the go ahead to take clearance from SNITT and GRA that we are not in default of anything. It is only when that is completely successfully that they will allow us access into the system and give us a date to make payment to our customers and depositors”, he said.
Customers
After a long day of discussions and explanations Customers side with management of Uniklife Microfinance Limited that BoG must allow them to return their investment because they have no issues what so ever with UNIKLIFE since they started doing business with them years ago.
“It’s will be in our interest for Kwame Adu Mante and his people to pay us our monies; we know them and they know us that is why we trust them to do a good job for us and not PWC. So we beg them, they should allow Uniklife Microfinance to pay our monies to us”, customers lament.
Petition
Background
The Bank of Ghana (BoG) on May 31, 2019 revoked the licenses of 347 insolvent microfinance companies.
The licences of 192 of them were revoked in addition to that of another 155 that have ceased operations.
A statement issued by BoG said these actions were taken pursuant to section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), which requires the BoG to revoke the licences of a bank or Specialised Deposit-taking Institution (SDI), when it determines that the institution is insolvent or is likely to become insolvent within the next 60 days.
Consequently, the BoG appointed Mr. Eric Nipah as Receiver for the specified institutions in line with section 123 (2) of Act 930.
The statement said the revocation of the licences of these institutions was to get rid of insolvent and dormant institutions that have no reasonable prospects of rehabilitation and have denied depositors access to their deposits, thereby constituting a threat to the stability of the financial system.
Patrick Ennimil Arthur | Business Today | Beachfmlonline.com | Ghana
