SIC Financial Services Limited is currently grappling with legacy debts amounting to approximately GH₵ 615.7 million, made up of GH₵ 67.7 million in operational debts and GH₵ 548 million owed to clients.
The company, which has been in financial distress for several years, is actively seeking solutions to stabilize its operations and restore confidence among stakeholders.
Management is exploring possible government support through a bailout or Public-Private Partnership (PPP) arrangement to address the huge financial burden.
In the meantime, the new Board of Directors and management team have intensified recovery efforts aimed at retrieving outstanding loans owed by various debtors.
To this end, SIC Financial Services has formally engaged Supreme Credit Management to pursue debt recovery on its behalf. Among the key debtors are Huge Star Company Limited, which obtained a facility in March 2014 and currently owes GH₵ 2.1 million including interest, Legacy General & Construction Limited, which took facilities in April and May 2014 and owes GH₵ 20.5 million; and Jakfradu’s Construction Works, which received a loan in December 2017 and now owes GH₵ 665,400.
Other indebted firms include Intellect Group, with a March 2015 facility totaling GH₵ 393,800, Marakaf, which obtained financing in January 2012 and owes GH₵ 2.7 million, Temabas, with a December 2013 facility totaling GHS 8.3 million; and Sungmambo, which received a facility in June 2018 and currently owes GH₵ 702,800.
According to management, SIC Financial Services, recovering these amounts remains crucial to improving liquidity and rebuilding the institution’s financial health.
Stakeholders are hopeful that with sustained recovery actions and possible state intervention, SIC Financial Services can gradually overcome its decade-long financial challenges.










































