The Receiver of the 347 collapsed microfinance companies, Eric Nana Nipah says he will complete the assessment of the institutions within 10 days.
The Bank of Ghana appointed Nana Nipah, a Director of PricewaterhouseCoopers as Receiver for the microfinance companies whose licences were recently revoked.
A statement issued and signed by Nana Nipah explained that as part of his duties, he is to recover and maximise asset realisations for the benefit of creditors including depositors of the microfinance companies.
He said he is also required to distribute realisations in accordance with the relevant provisions of Act 930 of Bank of Ghana, to satisfy the indebtedness of the collapsed institutions. The statement explained that Mr Nipah has commenced the process of taking control of the affected microfinance companies to ascertain the types and values of their assets and liabilities.
He directed all creditors including depositors to submit proof of debt forms with supporting documentation to the Receiver for validation, adding that the process of validating and agreeing on creditor claims would take 30 days from the date of the deadline for the submission of creditor claims.
