IN THE MATTER OF THE BANKS AND SPECIALISED DEPOSIT-TAKING INSTITUTIONS ACT, 2016 (ACT 930) AND
IN THE MATTER OF THE RECEIVERSHIPS OF THE 347 MICROFINANCE COMPANIES AND THE 23 SAVINGS & LOANS AND FINANCE HOUSE COMPANIES

 NOTICE TO ALL BORROWERS AND LOAN DEFAULTERS

Pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) (“the Act”), Bank of Ghana (“BoG”) on 31 May 2019 and 16 August 2019 revoked the operating licenses of 347 insolvent Microfinance Companies and 23 Savings and Loans and Finance House Companies respectively, and in accordance with Section 123(2) of the Act appointed Eric Nana Nipah, a Director of PricewaterhouseCoopers Ghana Limited (“PwC”) as the Receiver for the purposes of winding down the affairs of these Companies.

Section 127 (3) of the Act mandates the Receiver to realise all assets of the resolved companies, including outstanding loans and advances, for the benefit of creditors.

Accordingly, the Receiver wishes to once again notify the general public, especially persons/institutions who have outstanding loan obligations to these resolved companies to visit any of the maintained branches of these institutions for the repayment of their outstanding loans. The list of the maintained branches is shown on the adjacent table and can also be accessed on the Receiver’s website (www.ghreceiverships.com).

Borrowers may also settle their outstanding obligations to the resolved companies through the respective MTN MoMo numbers and/or receivership bank accounts listed in the adjacent tables.

Borrowers may also settle their outstanding obligations through the Receiver’s designated representatives/agents authorised to do so. If unsure of these designated persons/ agents, please call the Receiver’s Call Centre on 0242439441 for confirmation. The Receiver entreats all borrowers to cooperate with his agents in this regard.

Borrowers are to note that the Receiver will continue to accrue interest on all their outstanding loan obligations should they fail to pay or reach a settlement agreement with the Receiver immediately.

Borrowers are to note also that, the Receiver will pursue all recalcitrant defaulters through all available means as permitted by Act 930 including, but not limited to, legal actions and publishing names of recalcitrant defaulters in national and international newspapers.

For further information on the Loan Repayments, please call 0242439441/ 0302960208 or send an email to: projectdomino.loans@gmail.com (for the Microfinance Companies) or projectbluemoonloans@gmail.com (for the Savings and Loans and Finance House Companies).

You may also write to the;

The Receiver,
54 Olusegun Obasanjo High Way,
Opposite Accra Girls Senior High School
PMB CT42, Cantonments
Accra, Ghana

Thank you.

SIGNED

ERIC NANA NIPAH