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DKM victims receive refunds today

The payment of monies owed clients of the defunct DKM Diamond Microfinance Limited at Wa in the Upper West Region begins today, Monday May 15.

Close to 3,000 clients have been validated to receive their locked-up cash, and the GCB Bank Limited at Wa has been contracted to make the payments.

The reimbursements will take place from Monday, May 15 to Friday, June 2 for Wa, Nandom, and Wapaani customers.

Over 70,000 customers had their investments running into millions of cedis locked up with DKM and other sham microfinance institutions after the Bank of Ghana’s move in 2015 to stop them from operating over concerns that they were violating microfinance regulations.

The balance sheet of DKM as of May 11, 2015 showed its net liability stood at negative GHS21million.

Some victims allegedly committed suicide while others died as a result of the loss of their investment. The immediate past government started processes to reimburse the victims in phases. Some payments have been made so far. DKM was incorporated on 3 April 2013 and was licensed by the Bank of Ghana as a tier two microfinance company on 25 October 2013.

 

 

 

 

 

 

 

 

 

Source: classfmonline.com

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