Former employees of the defunct Micro-Finance and Savings and Loans Companies will receive their entitlements by the end of July.
This follows the near completion of the validation exercise undertaken by the Receiver of the Companies.
Spokesperson of the Receiver, Philomena Kuzoe told Radio Ghana that, it has taken some time for payments to be effected because the volume of exercise involved was huge and there was the need to ensure diligence to cut out ghost names and wrongful payments.
Mrs. Kuzoe said about six thousand of the employees are to receive payment and asked the affected staff to calm down because all the necessary processes are being carried out to ensure a smooth exercise.
Philomena Kuzoe is the spokesperson of the Receiver of the collapsed Micro-Finance and Savings and Loans Companies.