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Business news for Monday, August 31, 2020
Source: 3 News
2020-08-31
The receiver, Eric Nana Nipah
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Eric Nana Nipah, director of PricewaterhouseCoopers Ghana Limited (PwC) who was appointed receiver in order to settle the affairs of failed microfinance companies, has submitted a list of all microfinance and microcredit companies without records that allow him to validate and settle these claims within the framework of the depositor’s Payment Plan.
The trustee said that he took control of the facilities of these resolved companies and in the process, insured the assets and liabilities of these companies, as well as their books and records to the extent possible.
However, he said, in driving the resolution of these companies, a great challenge that the receiver has faced with some of the non-operating companies has been in the area of ensuring the books and records of these companies, both manual and electronic. .
At the beginning of the resolution process, there were 157 non-operating companies whose books and records we were unable to locate or secure. Based on the collaboration agreement we have with the Economic and Organized Crime Office (“EOCO”) that includes asset tracing and investigations, over time, we have been able to recover books and records of 131 resolved entities that have not They were operational at the beginning of the resolution of these companies, which allows us to validate the claims of creditors on these institutions.
Currently there are 35 companies resolved with claims from depositors for an approximate value of GH ¢ 252m that do not have books or records at our disposal, which allow us to validate and settle these claims under the Depositors Payment Scheme. We are working with EOCO to locate and retrieve the records of these companies in order to validate and settle the claims of the depositors of these companies.
Below is the list of companies without records that the Receiver presents:
ABIS PLUS MICROFINANCE LIMITED
AFRICAN TRUST MICROFINANCE LIMITED
AG MICROFINANCE LIMITED
PRICE
BENGAY MICROFINANCE LIMITED
BIG DREAMS MICROFINANCE LIMITED
BOIN MICROFINANCE COMPANY LIMITED
LIMITED COMMON CAPITAL MICROFINANCE
CROWN CAPITAL MICROFINANCE LIMITED
D-VANC LIMITED MICROFINANCE
DWETIRE MICROFINANCE LIMITED
ELITE MICROFINANCE LIMITED
MICROFINANCE SERVICES WERE LIMITED
GMET MICROFINANCE LIMITED
GODIGO MICROFINANCE LIMITED
GOLDEN TRUST MICROFINANCE CO. LIMITED
HALAL MICROFINANCE LIMITED
LIMITED HIGH PRESTIGE MICROFINANCE SERVICES
ICS MICROFINANCE LIMITED
JADA MICROFINANCE LIMITED
JOPAT MICROFINANCE COMPANY LIMITED
JOY HELP MICROFINANCE LIMITED
KAPITAL EXPRESS MICROFINANCE COMPANY LIMITED
KINGDOM TRUST MICROFINANCE LIMITED
DAILY FREEDOM
MAN CAPITAL MICROFINANCE COMPANY
NOBLE DREAM MICROFINANCE LIMITED
RESTORE MICROFINANCE COMPANY LIMITED
LIMITED FUTURE MICROFINANCE
SAVANNAH MICROFINANCE LIMITED
MICROFINANCE STAR PLUS LIMITED
LIMITED STARLING MICROFINANCE SERVICES
UNIQUE-MAS MICROFINANCE COMPANY LIMITED
GREAT AFRICAN MICROCREDIT COMPANY
Savings and loans and finance companies without records
SAVINGS AND CREST LOANS
SAVINGS AND STAR LOANS
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