Customers of collapsed microfinance firms will be paid in full this year – Ofori Atta

The Minister of Finance, Ken Ofori Atta has assured that his Ministry will carry out President Akufo-Addo’s pledge of paying customers of the collapsed banks and microfinance institutions a hundred percent of their lost investments.

According to him, the Ministry of Finance is conjuring the appropriate resources to pay off every customer in full. 

Asked by the host of News File on Joy FM Samson Ladi Anyenini whether the monies will be paid this year, Hon. Ken Ofori Atta who responded yes, added “I don’t know what the President has promised that has not happened…it has to happen. It is a tall task but it leads to our also realization of how we should be circumspect as a country as investors as individuals and that’s just a painful lesson.” 

When questioned about exactly how much is at stake? Hon. Ken Ofori Atta said “from our assessment, I think we have GHC16.28billion, we’ve done about GHC12billion so we have about GHC4billion that we have to do. With that as I mentioned I have a billion cedis somewhere, I can also add some paper to that to be able to do the payments.”

President Akufo Addo during his Christmas message to Ghanaians has assured customers of the collapsed banks and microfinance institutions that their investments will be paid in full. 

In November the Exchange and Securities Commission directed customers of the failed finance houses to go and validate their documents with the newly created Consolidated Bank of Ghana(CBG). 



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