A total of 35 dissolved financial companies with depositor claims worth approximately GH₵252 million have no books or records 14,479 claims.
Therefore, while the 14,479 claims have submitted GH₵252 million claims in respect of the 35 companies, the receiver is unable to validate the claims for payment.
14,448 claims worth GH₵201.5m against 34 microfinance and microcredit companies.
A total of 14,448 claims worth GH₵201.5 million (GH₵201,527,000) have been filed against 34 microfinance and microcredit companies without records. 31 claims valued at GH₵50.715m against savings & loans and finance house companies.
Similarly, 31 claims valued at GH₵50.715 million have been filed against savings & loans and finance house companies without records.
The receiver of the 347 defunct microfinance companies, 23 savings and loans and finance houses, Eric Nana Nipah said he is working with the Economic and Organised Crime Office (EOCO) to locate and retrieve these companies’ records in order to be able to validate and settle depositors’ claims made on these companies.
He explained that at the commencement of the resolution process, there were 157 non-operational companies whose books and records the receiver could not locate and secure.
However, a collaborative arrangement with EOCO, which includes assets tracing and investigations, over time, he said they were able to retrieve books and records from 131 resolved entities which were not operational at the commencement of the resolution of these companies.
This, he said, made it possible to validate creditor claims on these institutions.
List of companies without records
The companies with largest claims include Noble Dream Microfinance Limited – GH₵122.1 million (GH₵122,171,000); Man Capital Microfinance Company – GH₵67.2 million (GH₵67,235,000); and Crest Savings and Loans – GH₵47.9 million (GH₵47,980,000).
Others include Boin Microfinance Company Limited – GH₵2.9 million (GH₵2,9741,000); Sterling Savings and Loans – GH₵2.7 million (GH₵2,735,000); Golden Trust Microfinance Co. Limited – GH₵2.4 million (GH₵2,451,000); and Common Capital Microfinance Limited – GH₵1.2 million (GH₵1,283,000).
Companies without records also include Abis Plus Microfinance Limited – GH₵24,000; African Trust Microfinance Limited – GH₵481,000; AG Microfinance Limited – GH₵4,000; Bedel – GH₵988,000; Bengay Microfinance Limited – GH₵59,000; Big Dreams Microfinance Limited – GH₵1,000; Crown Capital Microfinance Limited – GH₵29,000; and D-Vanc Microfinance Limited – GH₵1,000.
Others are Dwetire Microfinance Limited – GH₵10,000; Elite Microfinance Limited – GH₵858,000; Era Microfinance Services Limited – GH₵943,000; Gmet Microfinance Limited – GH₵659,000; Godigo Microfinance Limited – GH₵8,000; Halal Microfinance Limited – GH₵1,000; High Prestige Microfinance Services Limited – GH₵188,000; ICS Microfinance Limited – GH₵6,000; Jada Microfinance Limited – GH₵13,000; and Jopat Microfinance Company Limited – GH₵17,000.
The rest are Joy Help Microfinance Limited – GH₵17,000; Kapital Express Microfinance Company Limited – GH₵6,000; Kingdom Trust Microfinance Limited – GH₵68,000; Liberty Daily – GH₵5,000; Restore Microfinance Company Limited – GH₵20,000; Royal Future Microfinance Limited – GH₵30,000; Savannah Microfinance Limited – GH₵22,000; Star Plus Microfinance Limited – GH₵202,000; Starling Microfinance Services Limited – GH₵88,000; Unique-Mas Microfinance Company Limited – GH₵549,000; and Great Africa Micro Credit Company – GH₵116,000.
