Bank of Ghana Liquidates Assets Of DKM Micro-finance Company To Settle Debts

The Bank of Ghana in collaboration with the Registrar General is currently in the process of liquidating the assets of DKM Micro-finance Company to raise funds to pay the customers who deposited money in company.

The Governor of the Bank of Ghana, Dr Henry Kofi Wampah stated this Tuesday on the Floor of Parliament when he appeared to brief the House on the operations of Savings and Loans and Micro-finance Companies in the Country.

He said PricewaterhouseCoopers is the firm contracted to undertake the liquidation, adding that the assets and liabilities of DKM are being ascertained to know the true status of the company.http://ghanapoliticsonline.com

The Governor of the Bank of Ghana, Dr Wampah said after several cautions on the operations of DKM the Management failed to heed to advice and the Bank had to move in to close the down the institution.

Dr Wampah also spoke about the fact that until the passage of the financial institution Act of 2008, the Bank of Ghana was not the body regulating the Micro-finance institutions explaining that most of the institutions were operating before they were place under the Bank.