Volta Regional Minister Helen Ntoso promises full investigation into microfinance scam

About 200 people protested in the region on Thursday to demand the release of their money from microfinance institutions such as Littledrops, Prosperity, Divine Rain, Investment Club, Good Health and Develop Winners.

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The women staged the demonstration Thursday morning play

The women staged the demonstration Thursday morning

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The Volta Regional Minister, Helen Adwoa Ntoso, has assured victims of the microfinance scam in the region of swift police investigations.

About 200 people protested in the region on Thursday to demand the release of their money from microfinance institutions such as Littledrops, Prosperity, Divine Rain, Investment Club, Good Health and Develop Winners.

The women staged the demonstration Thursday morning play

The women staged the demonstration Thursday morning

 

Clad in red, the demonstrators carried placards with inscriptions such as “Our money, No Vote”, “Prosperity bring our money”,  "No help, no vote," "we need our money back" and “No money, No vote”

They presented a petition to the regional minister asking for government intervention.

"All we have to do is to report the issue to the police and get the people apprehended, that is all we can do," Ntoso told GBC.

READ MORE: Another microfinance scam hits Volta Region

The victims, mainly traders and artisans, said they were promised huge returns on their investment.

People who invested GHC450 were promised returns between GHC5,000 and GHC7,000 within three to five months.

An angry customer said that these microfinance institutions came into the region claiming they have been duely registered. play

An angry customer said that these microfinance institutions came into the region claiming they have been duely registered.

 

Clients were asked by the microfinance institutions to deposit GHC450 and then convince 10 other people to also do same.

They are then promised juicy returns within five months.

Some of the victims went in for bank loans to invest.

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