CBnet withdraws application for two tier finance license

Accra, June 19, GNA - The Board of Directors of Capital Builders Network Limited has by a resolution withdrawn its application to the Bank of Ghana for a tier two micro finance licence.

It has therefore, written to the Registrar General's Department to amend its objectives and change its name to CBNet Marketing Concepts Limited.

Mr Yaw DiOwuso-Agyeman, Chief Executive Officer of CBNet Marketing Concept, announced this at a press conference in Accra on Tuesday.

Capital Builders' Network Limited, a micro finance company had suffered legal tussles with the Bank of Ghana over its mode of operations.

He said the company which had 5,271 customers with GH¢ 80,280 due them had about

GH¢ 5,671 cedis refunded to 275 customers through banks.

Mr DiOwuso-Agyeman said the balance of cash at the bank to be refunded for 3,297 customers was GH¢ 74,609.

He said the company had sent notices to all its customers qualified for refund of their registration fees to regularise their bank or E-zwich accounts to receive their refund.

Mr DiOwuso-Agyeman said the company and directors were not fraudsters neither were they conmen nor their concepts be labelled as “ponzi.”

He noted that his business and family had suffered untold hardship “Just because I have fine business ideas that I am employing to help my community.”

Mr DiOwuso-Agyeman said CBNet Marketing Concept; a new marketing company was ready to come out with innovative concepts that would help drive sales of quality goods and services which were cost effective in the country.

GNA