President Akufo-Addo directs payment of depositors of 347 collapsed microfinance companies

Customers of the 347 Microfinance and Savings and Loans companies whose lisences were revoked this year are to be paid their deposits in full.

This is in a Christmas message by the President, Nana Addo Dankwa Akufo-Addo in which he directed the Ministry of Finance to work with the Bank of Ghana to ensure that depositors claims are paid in full.

The Receiver of the collapsed financial institutions had placed ¢10,000 cap on the amounts to be paid to the customers.

The President while asking Ghanaians to celebrate Christmas festivities responsibly also touched on investments in the road sector, strengthening accountability agencies to fight corruption and the need for next year’s polls to be conducted in a free, fair and transparent manner.

The Bank of Ghana on May 31, 2019 announced its revocation of the licences of 347 Microfinance Companies in the country for insolvency.

Below is a list of all the affected banks.

Microfinance Companies – Insolvent

Name of institution

1. 1ST EYE MICROFINANCE COMPANY LIMITED
2. ABEPA MICROFINANCE LIMITED
3. ACEA MICROFINANCE CO. LIMITED
4. ADOM SIKA MICROFINANCE LIMITED
5. ADVALUE MICROFINANCE LIMITED
6. AE MICROFINANCE COMPANY LIMITED
7. AF MICROFINANCE COMPANY LIMITED
8. AFRIQUE CAPITAL MICROFINANCE LIMITED
9. AKAD MICROFINANCE LIMITED
10. AKI MICROFINANCE COMPANY LIMITED
11. ALL GHANA MICROFINANCE LIMITED
12. ALL INCLUSIVE MICROFINANCE LIMITED
13. ALLIANCETRUST MICROFINANCE LIMITED
14. AMISGOLD MICROFINANCE SERVICES LIMITED
15. A-N MICROFINANCE SERVICES LIMITED
16. A-ONE TRUST MICROFINANCE SERVICES LIMITED
17. APPIADUMAN MICROFINANCE LIMITED
18. ASPET-A MICROFINANCE LIMITED
19. A-STAR MICROFINANCE LIMITED
20. AXIS DIRECT MICROFINANCE COMPANY LIMITED
21. BENKOSON MICROFINANCE LIMITED
22. BEST MICROFINANCE SERVICES LIMITED
23. BLUEHILLS MICROFINANCE LIMITED
24. BOAFO NE NYAME MICROFINANCE LIMITED
25. BODEV MICROFINANCE LIMITED
26. BOIN MICROFINANCE LIMITED
27. BONAMAX MICROFINANCE COMPANY LIMITED
28. BRITE LIFE MICROFINANCE LIMITED
29. BROADVIEW CAPITAL MICROFINANCE LIMITED
30. CAPITAL AND MORE MICROFINANCE COMPANY LIMITED
31. CAPITAL CONNECT MICROFINANCE LIMITED
32. CASH MULTITRUST MICROFINANCE LIMITED
33. CASHPHASE MICROFINANCE COMPANY LIMITED
34. CASHPLUS MICROFINANCE LIMITED
35. CHRISTIAN COMMUNITY MICROFINANCE LIMITED
36. CITIZEN CAPITAL MICROFINANCE LIMITED
37. CITY CREDIT MICROFINANCE LIMITED
38. CONNECT CAPITAL MICROFINANCE LIMITED
39. COTTAGE MICROFINANCE LIMITED
40. CREDABILITY INVESTMENT AND MICROFINANCE LIMITED
41. CROWN CAPITAL MICROFINANCE LIMITED
42. CROWN HOUSE MICROFINANCE LIMITED
43. CYMAIN CAPITAL MICROFINANCE LIMITED
44. CYPRESS MICROFINANCE COMPANY LIMITED
45. DAHINSHELI MICROFINANCE LIMITED
46. DAILY CAPITAL MICROFINANCE LIMITED
47. DATACASH MICROFINANCE LIMITED
48. DBM MICROFINANCE LIMITED
49. DELIGHT MICROFINANCE COMPANY LIMITED
50. DES MICROFINANCE LIMITED
51. DOLPHIN MICROFINANCE SERVICES LIMITED
52. DONEWEALTH MICROFINANCE LIMITED
53. DOVE MICROFINANCE COMPANY LIMITED
54. DPF MICROFINANCE LIMITED
55. D-VANC MICROFINANCE LIMITED
56. DWETIRE MICROFINANCE LIMITED
57. EASYFAST MICROFINANCE LIMITED
58. EBENEZER MICROFINANCE COMPANY LIMITED
59. ECLIPSE MICROFINANCE LIMITED
60. EMEFS MICROFINANCE LIMITED
61. EMERALF MICROFINANCE LIMITED
62. EMERGE MICROFINANCE LIMITED
63. EMETON MICROFINANCE SERVICES LIMITED
64. EMPIRE CREDIT MICROFINANCE LIMITED
65. EMWL MICROFINANCE COMPANY LIMITED
66. ET MICROFINANCE LIMITED
67. EVERGREEN MICROFINANCE LIMITED
68. EXPRESSWAY MICROFINANCE LIMITED
69. FAST TRACK CAPITAL MICROFINANCE LIMITED
70. FINANCIAL REPUBLIC MICROFINANCE COMPANY LIMITED
71. FINO MICROFINANCE LIMITED
72. FIRST CALL MICROFINANCE COMPANY LIMITED
73. FIRST LIBERTY MICROFINANCE LIMITED
74. FOUNTAINGATE MICROFINANCE LIMITED
75. FRONTIER CAPITAL MICROFINANCE LIMITED
76. FRONTLINE MICROFINANCE LIMITED
77. FTS CAPITAL MICROFINANCE LIMITED
78. FUTURE LEADERS MICROFINANCE LIMITED
79. GAB MICROFINANCE LIMITED
80. GAD MICROFINANCE LIMITED
81. GALAXY MICROFINANCE LIMITED
82. GEO MULTI MICROFINANCE LIMITED
83. GG CREDIT MICROFINANCE COMPANY LIMITED
84. GHABSY MICROFINANCE LIMITED
85. GIANT STEPS MICROFINANCE SERVICES LIMITED
86. GLOBAL FEED MICROFINANCE LIMITED
87. GLOBAL TRUST MICROFINANCE SERVICES LIMITED
88. GOD IS PERFECT MICROFINANCE LIMITED
89. GOLDMAN CAPITAL MICROFINANCE CO. LIMITED
90. GREAT NATION MICROFINANCE LIMITED
91. GREENFIELD MICROFINANCE SERVICES LIMITED
92. HEGIS MICROFINANCE LIMITED
93. HERITAGE MICROFINANCE LIMITED
94. HODIDI MICROFINANCE COMPANY LIMITED
95. HOME SUPPORT AND ALLIED MICROFINANCE LIMITED
96. IDOS MICROFINANCE LIMITED
97. INTEGRITY CAPITAL MICROFINANCE LIMITED
98. JCF CONSUMER MICROFINANCE LIMITED
99. JDC MICROFINANCE COMPANY LIMITED
100. JEFAM MICROFINANCE COMPANY LIMITED
101. JIDAI MICROFINANCE LIMITED
102. JW MICROFINANCE LIMITED
103. KINGDAVE MICROFINANCE LIMITED
104. KINGSBRIDGE MICROFINANCE LIMITED
105. KKA EMPIRE MICROFINANCE LIMITED
106. KWAHU MICROFINANCE COMPANY LIMITED
107. LAKE VIEW MICROFINANCE LIMITED
108. LEGEND MICROFINANCE CO. LIMITED
109. LIBERTY DMI MICROFINANCE LIMITED
110. LIBERTY TRUST MICROFINANCE LIMITED
111. LJ CASHPLUS MICROFINANCE LIMITED
112. LLOYDS CAPITAL MICROFINANCE LIMITED.
113. MACE MICROFINANCE LIMITED
114. MASADAR MICROFINANCE LIMITED
115. MELBOND MICROFINANCE LIMITED
116. MERIDIAN MICROFINANCE LIMITED
117. MICAID MICROFINANCE COMPANY LIMITED
118. MOP MICROFINANCE LIMITED
119. MULTI MONEY MICROFINANCE COMPANY LIMITED
120. MULTIBILITY MICROFINANCE LIMITED
121. NAS MICROFINANCE COMPANY LIMITED
122. NATIONWIDE MICROFINANCE LIMITED
123. NEW BUSINESS MICROFINANCE LIMITED
124. NEW IMAGE MICROFINANCE LIMITED
125. NEW WAYS MICROFINANCE LIMITED
126. NKOSUO MICROFINANCE LIMITED
127. NO. 1 MICROFINANCE COMPANY LIMITED
128. OFS MICROFINANCE COMPANY LIMITED
129. OPTIMAL MICROFINANCE LIMITED
130. OSOMUFO MICROFINANCE LIMITED
131. OVAL MICROFINANCE LIMITED
132. PARAGON MICROFINANCE COMPANY LIMITED
133. PATHWAY MICROFINANCE LIMITED
134. PEARLHOUSE GHANA MICROFINANCE LIMITED
135. PEESAM MICROFINANCE LIMITED
136. PEREBRIM MICROFINANCE COMPANY LIMITED
137. PLANET MICROFINANCE LIMITED
138. PLANTERS CAPITAL MICROFINANCE COMPANY LIMITED
139. PRIME GUARANTY FSL MICROFINANCE LIMITED
140. PRIMECREDIT MICROFINANCE LIMITED
141. PRIMUS MICROFINANCE LIMITED
142. PROF MICROFINANCE LIMITED
143. PROGRESSIVE MICROFINANCE COMPANY LIMITED
144. PRONTO MICROFINANCE LIMITED
145. PROSEED MICROFINANCE COMPANY LIMITED
146. PURPOSE MICROFINANCE LIMITED
147. Q-STAR INVESTMENTS & MICROFINANCE LIMITED
148. R&J GATEWAY MICROFINANCE SERVICES LIMITED
149. RANCARE MICROFINANCE LIMITED
150. REDEEMER MICROFINANCE LIMITED
151. RENAIZANCE CAPITAL SOLUTIONS MICROFINANCE LIMITED
152. REOB FEKAMS MICROFINANCE COMPANY LIMITED
153. RIGHTWAY MICROFINANCE LIMITED
154. RIVERS CAPITAL MICROFINANCE LIMITED
155. ROPA MICROFINANCE LIMITED
156. ROSS CAPITAL MICROFINANCE LIMITED
157. ROYAL STEPS MICROFINANCE LIMITED
158. ROYALTY CAPITAL MICROFINANCE LIMITED
159. SAFENET MICROFINANCE LIMITED
160. SAMAG MICROFINANCE LIMITED
161. SAVANNAH MICROFINANCE LIMITED
162. SAVPLUS MICROFINANCE SERVICES LIMITED
163. SILVER TRUST MICROFINANCE COMPANY LIMITED
164. SOLID ROCK MICROFINANCE LIMITED
165. SOLUTIONS MICROFINANCE LIMITED
166. SOURCES UNLIMITED MICROFINANCE LIMITED
167. SOVEREIGN MICROFINANCE LIMITED
168. STANDARD TRUST MICROFINANCE LIMITED
169. STAR ALLIANCE MICROFINANCE LIMITED
170. STARLING MICROFINANCE SERVICES LIMITED
171. STARTWELL MICROFINANCE COMPANY LIMITED
172. SUPREME TRUST MICROFINANCE LIMITED
173. THE ORANGE CAPITAL MICROFINANCE
174. THE RASHARDS MICROFINANCE LIMITED
175. THE TRUSTLINE MICROFINANCE COMPANY LIMITED
176. TI MICROFINANCE LIMITED
177. TOTAL DISCOUNT MICROFINANCE LIMITED
178. TRUE LIFE CAPITAL MICROFINANCE LIMITED
179. TRUST LINK MICROFINANCE LIMITED
180. TRUST MICROFINANCE COMPANY LIMITED
181. TURNSTAR MICROFINANCE LIMITED
182. UNIK LIFE MICROFINANCE LIMITED
183. UNIQUE MICROFINANCE LIMITED
184. UNIQUE-MAS MICROFINANCE COMPANY LIMITED
185. VISION CREDIT MICROFINANCE LIMITED
186. VOA MICROFINANCE LIMITED
187. WE ENABLE MICROFINANCE LIMITED
188. WINTRUST MICROFINANCE LIMITED
189. WONDALAND MICROFINANCE LIMITED
190. YAN MICROFINANCE COMPANY LIMITED
191. YEKEN MICROFINANCE LIMITED
192. YOLI MICROFINANCE COMPANY LIMITED

Microfinance Companies – Insolvent and ceased operations

Name of institution

1. 72 HOURS MICROFINANCE COMPANY LIMITED
2. ABIS PLUS MICROFINANCE LIMITED
3. ACIT CAPITAL MICROFINANCE LIMITED
4. ADWENPA MICROFINANCE LIMITED
5. ADWUMADEN MICROFINANCE LIMITED
6. AFRICAN TRUST MICROFINANCE LIMITED
7. AG MICROFINANCE LIMITED
8. AGT MICROFINANCE COMPANY LIMITED
9. ALLOT MICROFINANCE COMPANY LIMITED
10. ARHINPA MICROFINANCE LIMITED
11. ATTENTION MICROFINANCE LIMITED
12. AV GLOBAL MICROFINANCE LIMITED
13. BEACONCITY MICROFINANCE COMPANY LIMITED
14. BEDEL MICROFINANCE LIMITED
15. BENGAY MICROFINANCE COMPANY LIMITED
16. BETTER LIFE MICROFINANCE COMPANY LIMITED
17. BIG DREAMS MICROFINANCE LIMITED
18. BIK MICROFINANCE COMPANY LIMITED
19. BOATEM MICROFINANCE LIMITED
20. BOAVOLE MICROFINANCE LIMITED
21. BRISK CREDIT MICROFINANCE LIMITED
22. C.I.G. MICROFINANCE LIMITED
23. CAPITAL HOUSE MICROFINANCE LIMITED
24. CAPITAL LINE MICROFINANCE LIMITED
25. CAPTAINS MICROFINANCE COMPANY LIMITED
26. CASABLANCA MICROFINANCE LIMITED
27. CASHBRIDGE MICROFINANCE LIMITED
28. CC MICROFINANCE LIMITED
29. CITIZENS RESOURCE MICROFINANCE LIMITED
30. COMAID MICROFINANCE LIMITED
31. COMBA MICROFINANCE LIMITED
32. COMMON CAPITAL MICROFINANCE LIMITED
33. COMMUNITY MICROFINANCE LIMITED
34. CRUCIAL TIMES MICROFINANCE LIMITED
35. CYPRESS CEDAR MICROFINANCE COMPANY LIMITED
36. DAA NHYIRA MICROFINANCE COMPANY LIMITED
37. DC MICROFINANCE COMPANY LIMITED
38. DEMS MICROFINANCE COMPANY LIMITED
39. DG CAPITAL MICROFINANCE LIMITED
40. DIVINE FORTUNES MICROFINANCE LIMITED
41. DIVINE MICROFINANCE LIMITED
42. DWADIFO ADANFO MICROFINANCE COMPANY LIMITED
43. DYNASTY MICROFINANCE SERVICES LIMITED
44. EDEN MICROFINANCE LIMITED
45. EKOBA GET RICH MICROFINANCE LIMITED
46. ELITE MICROFINANCE LIMITED
47. ELLIS MICROFINANCE LIMITED
48. ERA MICROFINANCE SERVICES LIMITED
49. EXCEL UNITED MICROFINANCE LIMITED
50. FIRST FIDELITY MICROFINANCE LIMITED
51. FLEXI MICROFINANCE LIMITED
52. FOCUS LINK MICROFINANCE COMPANY LIMITED
53. FORTRESS MICROFINANCE COMPANY LIMITED
54. FRANKAMAN MICROFINANCE COMPANY LIMITED
55. GIANT GAIT MICROFINANCE LIMITED
56. G-LIFE MICROFINANCE LIMITED
57. GLOBAL ONE MICROFINANCE COMPANY LIMITED
58. GMET MICROFINANCE LIMITED
59. GODIGO MICROFINANCE LIMITED
60. GOLDEN TRUST MICROFINANCE COMPANY LIMITED
61. GOLDPOT MICROFINANCE LIMITED
62. GOODNEWS MICROFINANCE COMPANY LIMITED
63. HALAL MICROFINANCE LIMITED
64. HIGH PRESTIGE MICROFINANCE SERVICES LIMITED
65. HOG MICROFINANCE LIMITED
66. ICS MICROFINANCE LIMITED
67. IK MICROFINANCE LIMITED
68. INSTANT MICROFINANCE LIMITED
69. INVESTSURE MICROFINANCE LIMITED
70. JADA MICROFINANCE LIMITED
71. JAYS MICROFINANCE LIMITED
72. JOPAT MICROFINANCE COMPANY LIMITED
73. JORBIES MICROFINANCE LIMITED
74. JOYHELP MICROFINANCE LIMITED
75. JOYPRIN MICROFINANCE COMPANY LIMITED
76. K. A. D. MICROFINANCE LIMITED
77. KANAFIN MICROFINANCE SERVICES LIMITED
78. KAPITAL EXPRESS MICROFINANCE COMPANY LIMITED
79. KARSI MICROFINANCE LIMITED
80. KENLASAB MICROFINANCE LIMITED
81. KINGDOM TRUST MICROFINANCE LIMITED
82. LANDMARK MICROFINANCE LIMITED
83. LAST CHANCE MICROFINANCE COMPANY LIMITED
84. LATTER RAIN MICROFINANCE LIMITED
85. LEAD CAPITAL MICROFINANCE LIMITED
86. LEAD GLOBAL MICROFINANCE LIMITED
87. LEAP CREDIT MICROFINANCE LIMITED
88. LIGHT MICROFINANCE LIMITED
89. LIQUIDITY SOLUTIONS MICROFINANCE LIMITED
90. LIYAC MICROFINANCE COMPANY LIMITED
91. LOYAL SHEPHERD MICROFINANCE LIMITED
92. MALLON MICROFINANCE COMPANY LIMITED
93. MAN CAPITAL MICROFINANCE COMPANY LIMITED
94. MARS MICROFINANCE LIMITED
95. MEGAMITCH MICROFINANCE LIMITED
96. MICRENE MICROFINANCE LIMITED
97. MIGHTY MICROFINANCE LIMITED
98. MOKAP MICROFINANCE LIMITED.
99. MONEYSHOP MICROFINANCE LIMITED
100. MOORE NAARA MICROFINANCE LIMITED
101. MT MICROFINANCE LIMITED
102. NATIVITY MICROFINANCE SERVICES LIMITED
103. NIVA MICROFINANCE LIMITED
104. NOBLE DREAM MICROFINANCE LIMITED
105. OBAATANPA MICROFINANCE COMPANY LIMITED
106. OBUOBA MICROFINANCE COMPANY LIMITED
107. OYE MICROFINANCE LIMITED
108. PANAM MICROFINANCE COMPANY LIMITED
109. PIMCEL MICROFINANCE COMPANY LIMITED
110. PINNACLE MICROFINANCE LIMITED
111. PLATINUM CAPITAL MICROFINANCE LIMITED
112. PREMIER MICROFINANCE LIMITED
113. PRICE CAPITAL MICROFINANCE LIMITED
114. PROFIT POINT MICROFINANCE LIMITED
115. PRO-LINK MICROFINANCE LIMITED
116. PRUDENCE MICROFINANCE LIMITED
117. PURPLE MICROFINANCE LIMITED
118. QODESH MICROFINANCE LIMITED
119. QUICK ONE MICROFINANCE LIMITED
120. REELL MICROFINANCE LIMITED
121. RESTORE MICROFINANCE COMPANY LIMITED
122. RHOKIDA MICROFINANCE LIMITED
123. ROYAL FUTURE MICROFINANCE LIMITED
124. SAG AVE MARIA MICROFINANCE COMPANY LIMITED
125. SAY-ADSAM MICROFINANCE LIMITED
126. SEEDSHARE CAPITAL MICROFINANCE LIMITED
127. SHALOM MICROFINANCE COMPANY LIMITED
128. SHINE CREDIT MICROFINANCE LIMITED
129. SICA MICROFINANCE LIMITED
130. SILBAN CAPITAL MICROFINANCE LIMITED
131. SIM MICROFINANCE LIMITED
132. SKYCREDIT MICROFINANCE LIMITED
133. SKYY CREDITLINE MICROFINANCE LIMITED
134. SOLUTION PIONEERS MICROFINANCE COMPANY LIMITED
135. SS MICROFINANCE LIMITED
136. SS STACOTS MICROFINANCE COMPANY LIMITED
137. ST. MARY’S MICROFINANCE LIMITED
138. STALWART MICROFINANCE SERVICES LIMITED
139. STAR PLUS MICROFINANCE LIMITED
140. STAR WEALTH MICROFINANCE LIMITED
141. STRATEGIES MICROFINANCE SERVICES LIMITED
142. SWEET JESUS MICROFINANCE LIMITED
143. TBS CAPITAL MICROFINANCE LIMITED
144. THE INFORMAL PROJECT MICROFINANCE COMPANY LIMITED
145. TIPPING POINT MICROFINANCE LIMITED
146. TRANS MICROFINANCE LIMITED
147. TURNING POINT MICROFINANCE COMPANY LIMITED
148. UNICORN HAPPY INVESTMENT MICROFINANCE LIMITED
149. V-SEED MICROFINANCE SERVICES LIMITED
150. WAXSON MICROFINANCE COMPANY LIMITED
151. WESTERN ALLIED MICROFINANCE LIMITED
152. WETLAND MICROFINANCE LIMITED
153. WIMAC TRUST MICROFINANCE LIMITED
154. WISELINK MICROFINANCE COMPANY LIMITED
155. XEROX MICROFINANCE SERVICES LIMITED