By the end of September this year, over 70,000 customers of DKM Diamond Microfinance who have had their monies locked up but have been validated will be reimbursed.
The payment of the locked-up investments is expected to be carried out by the Registrar-General’s Department, the official liquidator of DKM.
The Registrar-General’s Department had earlier in a statement said it had since July 2016 collated approximately 63,000 depositor claims.
Millions of cash deposited by customers of DKM were locked up, following the Bank of Ghana’s move in 2015 to stop the company from operating over its violation of microfinance regulations.
The balance sheet of DKM as of May 11, 2015, showed its net liability stood at negative GHS21 million. Hundreds of customers of DKM have over the months hit the streets over their locked-up cash while others have threatened to vote out President Mahama if he is unable to ensure their investments are paid them.
A number of customers of the company are reported to have lost their lives over the development, which has been described as one of the biggest microfinance disasters in the history of the industry.
Source: Ghana/AccraFM.com
