The Consolidated Bank, Ghana, says the processes to pay customers of defunct microfinance companies, savings and loans companies and finance houses have been smooth.
According to the bank, as of Friday, February 28, 2020, over 13,000 customers had been paid fully.
The bank added that the number of customers paid includes 490 companies, 581 social organizations, 174 financial institutions, and 48 financial security institutions.
The individual customers paid are 12,382.
The latest figures come on the back of a promise made by the receiver of the collapsed microfinance companies, savings and loans, and finance houses, that all affected depositors will receive their locked up investments by end of March this year.
President Akufo-Addo during the State of the Nation Address delivered last week revealed that an amount of GH¢5 billion has been earmarked to reimburse all customers of the defunct companies from Monday, February 24, 2020.
The customers are expected to either be paid in a combination of cash and bonds.
In an interview with Citi BusinessNews, spokesperson for the Receiver, Philomena Kuzoe, said: “By the time we finish with this exercise, which involves about 360,000 depositors, we will only be left with about 8,000 who we will be doing cash and bonds,” she added.
