DKM customers to have first creditors meeting from September 20, 2016

Citi Business News has gathered that the Official Liquidator of the embattled microfinance company DKM has called for a first creditors meeting with the customers.

In a statement copied to Citi Business News the Official Liquidator urged all affected customers to be at the said meeting to be held in the Brong Ahafo, Upper East, and Upper West regions.

According to the statement, the move is in accordance with section 23 and 42 of the bodies corporate (official liquidator), Act 1963 (Act 180).

The statement further clarified that the Brong Ahafo meeting will be held on September 20, 2016 , 10am at the Suynani Coronation Park.

The Upper East region creditors meeting is expected to take place on September 22, 2016 at the Bolgatanga Jubilee Park, while the last creditors meeting will be held in the Upper West region at the Wa Jubilee Park on September 24 2016.

The Registrar – General’s office used the opportunity to urge all customers or creditors to attend this first creditors meetings as it is part of the process to help pay back customers locked up funds.

Registrar General’s Dept completes process
The Registrar-General’s Department announced earlier that it has completed the liquidation processes of DKM by July this year.

The Registrar-General’s Department under the Ministry of Justice was engaged by the Bank of Ghana to handle the liquidation processes of DKM after scores of Ghanaians lost millions of cedis after the microfinance company run into financial challenges.

The company was alleged to have invested about GH₵77 million of its customers’ deposits in its subsidiary companies – DKM Airlines Company, DKM Fuel Station, DKM Transport, DKM Shea Butter Company and DKM Mining Company, among others.

Millions of cash deposited by the customers were locked up, following the BoG’s move in 2015 to stop the company, including others from operating, over concerns of violating the microfinance regulations.
By: Norvan Acquah-Hayford/

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