DKM customers threaten to storm the premises of BOG

According to the customers, the 90-day moratorium should have ended today, 11th of August 2015, but the Bank of Ghana is making more demands of the company.

 

Customers of DKM Micro Finance are threatening to escalate their picketing to the  premises of the Bank of Ghana if their investments are not released to them.

The customers , who besieged premises of  DKM in Sunyani in their hundreds on Tuesday,  have declared their resolve to continue their demonstration in the company’s premises across the country.

The customers have been protesting a freeze on their investments due to a 90-moratorium placed on DKM microfinance by the Bank of Ghana for breaching the Banking Act.

Though the moratorium elapsed on Tuesday, August 11, the Bank of Ghana is yet to lift the ban on the operations of the company  and the corresponding release of the investments of its customers. The central bank instead issued a directive to the company to raise a sum of GHC50 million to shore up its reserves before the moratorium is released. According to the Central Bank, DKM does not have enough in assets to support its liability to its customers.

Speaking to journalists from the  company’s offices in Sunyani yesterday, a customer said,

“We have planned to go to the Bank of Ghana later on to demonstrate. No one should blame us for what will happen. We have pleaded with the central bank to release our monies. The 90-day moratorium is over but they will not release our money to us. We will demonstrate at the premises of DKM financial services until we get our money. And I am sure other customers in Berekum and Bolgatanga will also do same, so you can imagine. No one is telling us anything about our money.”

Meanwhile the Bank of Ghana has not revealed whether the company has raised the required capital increase  of GHC50 million.

This week, customers of DKM pleaded with the central bank to release all matured investments to them  in the meantime, the central bank declined.

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