Over 70,000 distressed customers of botched micro-finance company, DKM Diamond Micro Finance Company has been validated for payment by the Registrar-General’s Department, the official liquidator of DKM.
The distressed customers whose investments have been locked up for over a year now will be paid by the close of September, 2016 according to reports.
Accra based Citi FM reports that two local banks have been contracted by the Registrar-General’s Department to make the payments to the over 70,000 customers spread across the country.
DKM micro finance with its headquarters in Sunyani as at May 11, 2015 had a net liability of negative 21 million cedis a situation that forced the Bank of Ghana to place a 90-day moratorium on their operations in accordance with the provisions of the Banking Act 2004 (Act 673) as amended.
The Regulatory Body commissioned an audit into their operations to determine the assets to liabilities ratio of the company.