Stop The Exploitation Now- Microfinance Companies Warned

Committee Against Financial Exploitation(C.A.F.E)

Good morning ladies and gentlemen in the media and other concerned institutions, The Committee Against Financial Exploitation is through this medium drawing the attention of relevant stakeholders particularly the media to the total exploitation of unsuspecting, innocent and hardworking customers of microfinance institutions particularly DKM Microfinance Limited.

This statement is being released after extensive deliberations with concerned customers of DKM MICROFINANCE on developments which they are not happy with or see as illegal considering their financial rights as citizens of Ghana at their offices or agencies.

Months ago, THE BANK OF GHANA suspended DKM microfinance operations due to some technicalities but have decided to allow them full operation which brought them opening their offices from 22/09/2015. DKM claim that they can only pay THE PRINCIPAL amounts of customers which we all felt was normal considering the fact that they could not work or invest customers’ monies to be able to have the necessary returns. After customers’ agreeing to this, DKM has taken the illegal decision to pay less than full principal belonging to legitimate customers.

It is in the light of this illegal perpetuation of deals which DKM finds itself, that I write to appeal to their corporate conscience to stop and pay customers who demand full principal of their monies rather than the unlawful nature with which they (DKM) are going about in the various offices and agencies. DKM has deployed several security personnel at their offices to deal with customers’ who decide to protest receiving less than their due and we see this as a stab in our backs after we all supported DKM during their hard times with THE BANK OF GHANA.

The Committee Against Financial Exploitation is advancing the legitimate cause on behalf of concerned customers of DKM Microfinance Limited by releasing this statement to urge authorities to do the right thing else after working hours Friday October 2, 2015;

We (C.A.F.É) will write formally to BANK OF GHANA about these issues and supplement it with a demonstration across the region to register our displeasure.

We will help fix the system to allow the laws of Ghana to be respected and enforced to the letter as enshrined in our constitution.

All other microfinance companies who are engaged in like or other illegalities in their dealings with the public will face strong peaceful demonstrations afterwards.

Thank you.

NANA YAW SARKODIE

(CONVENER)

0208978549

Cc;

DKM MICROFINANCE LIMITED

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