The receiver of defunct MFI’s at the PricewaterhouseCoopers Ghana Limited (PwC), Eric Nana Nipah, has presented a list of all the Microfinance and Microcredit Companies without records to enable him to validate and settle these claims under the Depositor Payment Scheme. The receiver said it took control over the premises of these resolved companies and in the process, secured the assets and liabilities of these companies, as well as their books and records to the extent possible.
However, it said, in the conduct of the resolution of these companies, a major challenge the receiver has faced with some of the non-operational companies has been in the area of securing the books and records of these companies both manual and electronic.
At the commencement of the resolution process, there were 157 non-operational companies whose books and records we were not able to locate and secure. Based on the collaborative arrangement we have with the Economic and Organised Crime Office (“EOCO”) which includes assets tracing and investigations, over time, we have been able to retrieve books and records from 131 resolved entities which were not operational at the commencement of the resolution of these companies, thereby making it possible for us to be able to validate creditor claims on these institutions.
Currently there are 35 resolved companies with depositor claims worth approximately GH¢252m which have no books or records available to us, to enable us to validate and settle these claims under the Depositor Payment Scheme. We are working with EOCO to locate and retrieve these companies records in order to be able to validate and settle depositor claims made on these companies.
Below is the list of the companies without records as presented by the Receiver:
- ABIS PLUS MICROFINANCE LIMITED
- AFRICAN TRUST MICROFINANCE LIMITED
- AG MICROFINANCE LIMITED
- BEDEL
- BENGAY MICROFINANCE LIMITED
- BIG DREAMS MICROFINANCE LIMITED
- BOIN MICROFINANCE COMPANY LIMITED
- COMMON CAPITAL MICROFINANCE LIMITED
- CROWN CAPITAL MICROFINANCE LIMITED
- D-VANC MICROFINANCE LIMITED
- DWETIRE MICROFINANCE LIMITED
- ELITE MICROFINANCE LIMITED
- ERA MICROFINANCE SERVICES LIMITED
- GMET MICROFINANCE LIMITED
- GODIGO MICROFINANCE LIMITED
- GOLDEN TRUST MICROFINANCE CO. LIMITED
- HALAL MICROFINANCE LIMITED
- HIGH PRESTIGE MICROFINANCE SERVICES LIMITED
- ICS MICROFINANCE LIMITED
- JADA MICROFINANCE LIMITED
- JOPAT MICROFINANCE COMPANY LIMITED
- JOY HELP MICROFINANCE LIMITED
- KAPITAL EXPRESS MICROFINANCE COMPANY LIMITED
- KINGDOM TRUST MICROFINANCE LIMITED
- LIBERTY DAILY
- MAN CAPITAL MICROFINANCE COMPANY
- NOBLE DREAM MICROFINANCE LIMITED
- RESTORE MICROFINANCE COMPANY LIMITED
- ROYAL FUTURE MICROFINANCE LIMITED
- SAVANNAH MICROFINANCE LIMITED
- STAR PLUS MICROFINANCE LIMITED
- STARLING MICROFINANCE SERVICES LIMITED
- UNIQUE-MAS MICROFINANCE COMPANY LIMITED
- GREAT AFRICA MICRO CREDIT COMPANY
- Savings & Loans and Finance House Companies without Records
- CREST SAVINGS AND LOANS
- STERLING SAVINGS AND LOANS
