Lord Winners Microfinance attracts investors to revive operations

Lord Winners Microfinance Company is confident of bouncing back to operations, following an investor interest to inject capital into the business.

The firm has been in financial distress, resulting in failed attempts by customers to access their deposits.

Branches of the microfinance firm have been closed for weeks, following panic withdrawal and vandalization of property by some customers.

At an open forum organized by the firm in Kumasi, clients poured their anger on managers of the microfinance firm.

Chief Executive Officer, Joseph Ampah, however assured them of getting back their contributions.

He says there are arrangements to refund clients of their deposits within the next month but pleaded for patience to refund their contributions.

Mr. Ampah tells Luv Biz Report all branches in Kumasi, Hwidiem and Tepa are re-opening for business from Monday.

He will not disclose the source of additional funding but says the cash flow will help sustain the business.

A number of microfinance institutions in the Ashanti region and other parts of the country have either collapsed or faced liquidity challenges in the past few months.

Story by Kofi Adu Domfeh