Microfinance Association to help retrieve investments of DKM customers

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January 13, 2016 1:48 PM

Chairman of the Association, Collins Amponsah Asante said the Association will do all within its power to retrieve the investments of the customers and see how to get these Microfinance companies back on track if possible.

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The Ghana Microfinace Companies Association is taking steps to help redeem locked up investments of customers of DKM Microfinance, God Is Love Fun Club, and the other microfinance companies who have gone bust with investors' monies.

" We are engaging stakeholders, the Bank of Ghana as well as the Microfinance institutions as to how to protect depositors' funds as well payback the investments. It is a two- way thing, these companies have also given out loans that need to be collected. So we will lead the way in both processes." Mr. Amponsah stressed.

More public attention was drawn to the activities of DKM Microfinance, God is Love Fun Club and other microfinance companies predominantly in the Brong Ahafo Region who have been operating illegally, when president Mahama addressed the issue in his meeting with the press to mark his third year in office.

The President denied any links between his wife, Lordina Mahama or himself and DKM Microfiance.

The president then revealed that he has charged the Bureau of National Investigations to confiscate property of owner of DKM, Martin Delle, the owners of God is Love Fun Club and other Microfinance Companies that have illegally locked up the deposits of investors.

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