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Panic Withdrawal Customers' investments are safe- Dwadifo Adanfo Board

Customers of the financial institute on Wednesday besieged branches of the of institution demanding to withdraw their investments.

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Management of microfinance company Dwadifo Adanfo  are assuring their customer and members of the general public that their investments are safe.

Customers of the financial institute  on Wednesday besieged branches of the of institution demanding to withdraw their investemnts.

According to a board member of the financial institution, the unrest was after a rumour started about the institution being closed down by the Bank of Ghana for breaching the Banking Act.

BUt in an exclusive interview with Pulse Business Thursday afternoon, Mr. George Bonney, Board Member of the Dwadifo Adanfo, said the rumours were untrue and unfounded.

" The rumours went rife on Monday, there was a problem, and that customers should all come for their investments. It was unfortunate, but that laid to the customer thronging to two of our branches to demand their investmernts."
Pulse Business:  Which branches exactly?

Mr. Bonney: The Madina and Kasoa branches of the bank.

Pulse Business: Where did the rumours come from

Mr. Bonney: Frankly, we can't tell. But this can happen to every financial institution. It is panic withdrawal. It can even happen to the World Bank, if member countries should decide to go withdraw all their deposites. So its a normal thing.

Pulse Business: So how is the institution handling the situation

Mr. Bonney: Even though we did not prepare for the panic withdrawals, we are paying our customers their withdrawals. I will like to use this opportunity to assure our customers and members of the general public that their investments are safe. All our shareholders are also assuring them there is no need to panic. We have also gotten calls from other customers who say they trust us, and are not in a hurry to withdraw their investments.

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