The sports category has moved to a new website.

The receiver of collapsed microfinance companies to begin auctioning vehicles today

The Receiver of the collapsed 347 microfinance companies and 23 savings and loans and finance house companies will auction the first batch of vehicles and motorbikes of the defunct companies.

The Receiver, Eric Nana Nipah of PricewaterhouseCoopers (PwC)

The auction will start on February 3, 2020, and end on February 7, 2020.

A notice issued by the receiver said the auction will be done at the College of Physicians and Surgeons in Accra at 9 am daily.

The vehicle brands include Toyota, Hyundai, KIA, Ford, among others.

Prior to the auction, an inspection of the items was held from Wednesday, January 29 to Friday, January 31, 2020.

ADVERTISEMENT

The notice issued said that interested persons who wish to buy the vehicles and motorbikes are expected to pay “strictly cash down at the fall of the gavel,” the statement said.

The Bank of Ghana (BoG), on May 31, 2019, revoked the license of 347 Microfinance Institutions.

The BoG revoked the licences of 347 Microfinance Institutions on May 31, 2019. The Central Bank said this was to remove insolvent and dormant institutions that have no reasonable prospects of rehabilitation and have denied depositors access to their deposits, thereby constituting a threat to the stability of the financial system.

In accordance with Section 123(2) of Act 930, the BoG appointed Eric Nana Nipah, a Director of PricewaterhouseCoopers (Ghana) Limited (“PwC”) as Receiver for the purposes of winding down the affairs of the affected microfinance companies.

Mr Nipah said he had paid about GHC30 million worth of claims to affected depositors as of August 2019.

ADVERTISEMENT

He said that he received close to 152,000 depositor claims worth about GH?1.4 billion.

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

African countries with the highest divorce rate

African countries with the highest divorce rate

10 African cities with the highest crime index at the start of 2024

10 African cities with the highest crime index at the start of 2024

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Details of Ngina Kenyatta's luxurious restaurant

Details of Ngina Kenyatta's luxurious restaurant

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

ADVERTISEMENT