General News of Wednesday, 13 March 2019
A customer of Gold Man Savings and Loans has told Joy News that she has to beg for food to feed herself and her three children after her investment got locked up.
This was after the Bank of Ghana (BoG) revealed in November 2018 revealed that more than 200 microfinance institutions, as well as savings and loans companies, were distressed.
The Central Bank said the companies were unable to either pay up returns promised clients or in some instances, even pay up the principals of customers.
This situation has left many customers of these financial institutions in a difficult situation.
Meanwhile, when the reporter contacted the Goldman Savings and Loans, they say, though the company is facing liquidity challenges, they were working to help pay back Ama’s money.
Watch Joy News’ Nancy Emefa Dzradosi’s report: