Microfinance Crisis Duped Microfinance Investors plead with Mahama to intervene

The microfinance companies suspected to be involved in the scandal include Little Drops, Prosperity and Good Health Develop Winners, Royal Foundation Global Leads, Royal Care, Marceph Wealth, JODEQ Network, Clear Image and Divine Rain.

  • Published:
24/7 Live - Subscribe to the Pulse Newsletter!

Hundreds of residents in the Volta Region who have been duped by microfinance companies are pleading with President Dramani Mahama to intervene so they can retrieve their money.

At a press conference organised by the victims of the scam, the spokesperson of the groups Richard Hadzidey “Mr President, we are appealing to you to use your good offices to get these network companies pay the monies due us since the banks are after us for their monies and interest.”

The microfinance companies suspected to be involved in the scandal include Little Drops, Prosperity and Good Health Develop Winners, Royal Foundation Global Leads, Royal Care, Marceph Wealth, JODEQ Network, Clear Image and Divine Rain.

READ ALSO: No money to pay DKM customers- Liquidator

The demonstrators earlier this year and subsequently presented a petition to the Volta Regional Minister.

The Volta Regional Minister, Helen Ntoso, promised the victims of swift police investigations.

"All we have to do is to report the issue to the police and get the people apprehended, that is all we can do," Ntoso told GBC

READ ALSO: BOG releases list of accredited microfinance companies

But the victims say they have not seen any action after the promise hence the plea with President Mahama to step in.

Meanwhile, the Bank of Ghana (BoG) says the microfinance scam in the Volta Region is of 'grave concern' and that it is liaising with the police to bring the perpetrators to book.

According to the Bank of Ghana, the scam involves over 400 people. The BOG also stated that the microfinance companies are not licensed and regulated by the Bank.

The BOG stated that “the Bank is liaising with law enforcement agencies to trace and bring the perpetrators to book.”

Recommended Articles

Recommended Videos





Top Articles

1 Ghana Police IGP in another radical police shake-upbullet
2 Kumasi Technical Institute Over 20 injured after students clash with...bullet
3 Video Soldier detained for leaking Flagstaff House brutality videobullet
4 Gory Accident NPP parliamentary candidate involved in fatal crash;...bullet
5 Pay Day NDC Ministers troop to Flagstaff House for ex-gratiabullet
6 Deputy AU Chair Backing Kwesi Quartey for deputy AU Chair was...bullet
7 Ghana Police Trafficking ring busted, 11 girls rescuedbullet
8 National Defence Troops to receive peacekeeping allowance...bullet
9 Bilateral Ties Czech Ambassador holds talks with...bullet
10 Transparency in Government TransGov and GODI sign MOU...bullet

Top Videos

1 Meet "The Beast" President Obama's Cadillac that's more tank than carbullet
2 Video Police officer attacked at Flagstaff Housebullet
3 Obinim What happen'd when we fact checked Obinim's Bible knowledgebullet
4 Kwame Nkrumah Interchange Water leaks from hole in wall at new...bullet
5 Watch Ghanaian funerals; A time to dance and celebratebullet
6 Watch Kumchacha delivers Counselor Lutterodt from 'demons'bullet
7 Vitiligo Enam Honya - is challenging what you think about beautybullet
8 In Zimbabwe President Mugabe’s 70 year-old aide marries...bullet
9 Refugee Ghanaian to lose fingers after 7-hour trek to...bullet
10 Video Taxi driver terrified after an encounter with a...bullet

News