A Director of PricewaterhouseCoopers Ghana Limited (PwC) who was appointed as the receiver for the purposes of winding down the affairs of the failed Micro Finance Companies, 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 GHS252m 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
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
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