Prime News Ghana

We'll pay DKM customers in full by end of September -Akufo-Addo

By Justice Kofi Bimpeh
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President Akufo-Addo says government will by the end of September pay Diamond Microfinance Limited, DKM customers.

Akufo-Addo stated that the said payment will be made in full.

He made this known at a gathering of Chiefs and people of Wenchi in the Bono Region during his presidential tour.

“By the end of September, everyone who was owed by DKM will be given their money,” he said.

“We are going to make sure that all balances are paid in full. We are not paying in percentages like Mahama’s government,” he assured.

READ ALSO : Akufo-Addo elected new Chairman of ECOWAS

In 2015, some microfinance companies in the Brong Ahafo region found themselves in a mess, following accusations that they squandered the deposits of their customers.

The central bank in 2015 suspended the operations of DKM for violating the Banking Act.

Though the central bank subsequently lifted the ban on the company’s operations, DKM was unable to pay its customers their locked up cash.

According to then-President, John Mahama, and his Finance Minister, Seth Terkper, DKM Microfinance had spent about GHS 77 million of their clients’ monies.

President Akufo-Addo in his campaign towards the 2016 elections assured the clients of these companies that he would retrieve their locked-up monies for them when he is voted into power.

The Bank of Ghana confiscated the assets of the company and appointed the Registrar General’s Department to commence liquidation processes to refund customers of the company.