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04.12.2019 Business & Finance

"Several Savings and Loans branches, remain open for business." - TheReceiver Announces

By Emmanuel Oscar Ugoh
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The Receivership of the 23 Savings & Loans and Finance House Companies, on Monday, 2nd December announced branches of companies under receivership, that would stay open to service customers of all Savings & Loans and Finance House companies whose license have been revoked.

As explained in a press release, these branches will only be accessible for receivership business.

The receiver explained in an earlier interview, that some branches of companies under his receivership, have been close to effectively cut down the operational cost, as his greatest concern and sympathy lay with customers who have lost their deposits.

The press release signed by the receiver stated, "Stakeholders are advised to visit operating branches nearest to the S&L branches which the Receiver has shut down, for loan repayment and any other inquiries relating to the receivership of their affected S&Ls."

Find the list of open branches and full statement below.

IN THE MATTER OF THE BANKS AND SPECIALISED DEPOSIT-TAKING INSTITUTIONS ACT, 2016 (ACT 930)

AND IN THE MATTER OF THE RECEIVERSHIP OF THE 23 SAVINGS & LOANS AND FINANCE HOUSE COMPANIES

NOTICE TO THE GENERAL PUBLIC

Pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), Bank of Ghana ("BoG") on 16 August 2019 revoked the operating licenses of 23 insolvent Savings and Loans and Finance House Companies (“S&Ls”).

The licences of the 23 S&Ls were revoked as part of BoG’s drive to strengthen the financial services sector by getting rid of insolvent and dormant institutions which had no reasonable prospects of recovery and had denied depositors access to their deposits.

BoG in accordance with Section 123(2) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) appointed Eric Nana Nipah, a Director of PricewaterhouseCoopers Ghana Limited (“PwC”) as the Receiver for the purposes of winding down the affairs of these institutions.

The Receiver in accordance with Section 123 (3) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) has taken control of the 23 S&Ls and is prosecuting the receiverships in accordance with the provisions of Act 930.

The Receiver wishes to inform the general public that effective Monday, 2 December 2019, the branches of the following affected S&Ls set out below will remain open to serve the customers of these institutions as well as the customers of other S&Ls whose licenses have been revoked. THE MAINTAINED BRANCHES ARE OPENED FOR RECEIVERSHIP BUSINESS ONLY.

Please note that the Receiver’s team will cease to operate from any branch of the affected S&Ls which has not been listed below.

Stakeholders are advised to visit operating branches nearest to the S&L branches which the Receiver has shut down, for loan repayment and any other enquiries relating to the receivership of their affected S&Ls.

Please note that the working hours for the maintained S&L branches will be from 8:00am to 5:00pm, Mondays to Fridays.

Please contact the following telephone numbers should you require any further clarification on the above:

020 490 4250

055 000 0966

0302960197 / 8/ 9

0302960208 / 9 /10

0302960023 / 4

0302953518 / 9

or visit www.ghreceiverships.com

ERIC NANA NIPAH

The Receiver

RECEIVERSHIP OF 23 SAVINGS AND LOANS AND FINANCE HOUSE COMPANIES

Encl. List of branches to be maintained

No. Branches of Savings and Loans Companies to be maintained Location of Maintained Branch Region
1 Adom Abossey Okai Branch-Head Office Greater Accra
2 Express Tesano-Head Office Greater Accra
3 Womens World Tema Greater Accra
4 First Allied Tema Greater Accra
5 All Time East Legon-Head Office Greater Accra
6 Legacy Adenta Greater Accra
7 Dream Head Office (Tesano) Greater Accra
8 Womens World Ashiaman Greater Accra
9 Womens World Derby Greater Accra
10 Commerz Savings and Lonas Roman Ridge-Head Office Greater Accra
11 Legacy Head Office-Osu Greater Accra
12 Womens World Dome Greater Accra
13 First African Accra-Head Office Greater Accra
14 First African Kasoa Greater Accra
15 IFS East Legon-Head Office Greater Accra
16 First Trust New Town Greater Accra
17 Ideal Head Office Greater Accra
18 Global Access Kwashieman Greater Accra
19 Womens World Madina Greater Accra
20 First Allied Tudu Greater Accra
21 Midland Madina Greater Accra
22 First Ghana Savings and Loans Tema Branch Greater Accra
23 ASN Dome Greater Accra
24 Alpha Madina Greater Accra
25 Accent Head Office Greater Accra
26 GN Savings and Loans Limited Ring Road Central Greater Accra
27 CDH Head Office Greater Accra
28 Unicredit Ridge-Head Office Greater Accra
29 GN Savings and Loans Limited Sege Mc Greater Accra
30 GN Savings and Loans Limited North Ridge-Head Office Greater Accra
31 GN Savings and Loans Limited Mallam Interchange Greater Accra
32 GN Savings and Loans Limited Dansoman Greater Accra
33 Legacy Krofrom Ashanti
34 Womens World Kumasi Suame Ashanti
35 Womens World Kumasi Adum Ashanti
36 First African Adum Ashanti
37 Legacy Konongo Branch Ashanti
38 GN Savings and Loans Limited Obuasi Ashanti
39 GN Savings and Loans Limited Aboabo Ashanti
40 GN Savings and Loans Limited Abuakwa Ashanti
41 GN Savings and Loans Limited Agogo Ashanti
42 GN Savings and Loans Limited Agona Ashanti
43 GN Savings and Loans Limited Anyinasu Ashanti
44 GN Savings and Loans Limited Jacobu Ashanti
45 GN Savings and Loans Limited Mampong Ashanti
46 GN Savings and Loans Limited Mankraso Ashanti
47 GN Savings and Loans Limited Offinso Ashanti
48 GN Savings and Loans Limited Sabin Akrofrom Ashanti
49 GN Savings and Loans Limited Obogu Ashanti
50 First Trust Techiman Brong Ahafo
51 First Ghana Savings and Loans Sunyani Branch Brong Ahafo
52 First Allied Berekum Brong Ahafo
53 Legacy Duayaw Nkwanta Brong Ahafo
54 First Allied Goaso Brong Ahafo
55 GN Savings and Loans Limited Wenchi-Subinso Brong Ahafo
56 GN Savings and Loans Limited Sampa Brong Ahafo
57 GN Savings and Loans Limited Ntotroso Brong Ahafo
58 GN Savings and Loans Limited Nsawkaw Brong Ahafo
59 GN Savings and Loans Limited Nkrankwanta Brong Ahafo
60 GN Savings and Loans Limited New Dormaa Kotokrom Brong Ahafo
61 GN Savings and Loans Limited Nchiraa Brong Ahafo
62 GN Savings and Loans Limited Mim Brong Ahafo
63 GN Savings and Loans Limited Kwapong Brong Ahafo
64 GN Savings and Loans Limited Kenyase Brong Ahafo
65 GN Savings and Loans Limited Kintampo Mc Brong Ahafo
66 GN Savings and Loans Limited Kasapin Brong Ahafo
67 GN Savings and Loans Limited Kajaji Brong Ahafo
68 GN Savings and Loans Limited Atebubu Brong Ahafo
69 GN Savings and Loans Limited Ayomso Brong Ahafo
70 GN Savings and Loans Limited Badukrom Brong Ahafo
71 GN Savings and Loans Limited Bechem Brong Ahafo
72 GN Savings and Loans Limited Berekum Brong Ahafo
73 GN Savings and Loans Limited Busunya Brong Ahafo
74 GN Savings and Loans Limited Dormaa Ahenkro Brong Ahafo
75 GN Savings and Loans Limited Drobo Brong Ahafo
76 GN Savings and Loans Limited Duayaw Nkwanta Brong Ahafo
77 Dream Koforidua Branch Eastern
78 Legacy Koforidua Eastern
79 First Allied Suhum Eastern
80 First Allied Nkawkaw Eastern
81 Dream Somanya Branch Eastern
82 GN Savings and Loans Limited Tease Eastern
83 GN Savings and Loans Limited Kama Plaza Eastern
84 GN Savings and Loans Limited Donkorkrom Eastern
85 GN Savings and Loans Limited Begoro Eastern
86 GN Savings and Loans Limited Ayirebi Eastern
87 GN Savings and Loans Limited Asesewa Eastern
88 GN Savings and Loans Limited Asamankese Mc Eastern
89 GN Savings and Loans Limited Anum Apapam Eastern
90 GN Savings and Loans Limited Akwatia Eastern
91 GN Savings and Loans Limited Akwadum Eastern
92 GN Savings and Loans Limited Akroso Eastern
93 GN Savings and Loans Limited Akropong Eastern
94 GN Savings and Loans Limited Akim Swedru Eastern
95 GN Savings and Loans Limited Akim Otwereso Eastern
96 GN Savings and Loans Limited Akim Oda Mc Eastern
97 GN Savings and Loans Limited Akim Manso Eastern
98 GN Savings and Loans Limited Akim Afosu Eastern
99 GN Savings and Loans Limited Akim Aduasa Eastern
100 GN Savings and Loans Limited Adawso Eastern
101 GN Savings and Loans Limited Achiase Eastern
102 GN Savings and Loans Limited Tutu Eastern
103 GN Savings and Loans Limited Somanya Eastern
104 GN Savings and Loans Limited Mpraeso Eastern
105 GN Savings and Loans Limited Maame Krobo Eastern
106 GN Savings and Loans Limited Kpong Eastern
107 GN Savings and Loans Limited Nsawam Eastern
108 First Ghana Savings and Loans Hohoe Branch Volta
109 GN Savings and Loans Limited Nkwanta Volta
110 GN Savings and Loans Limited Kpassa Mc Volta
111 GN Savings and Loans Limited Ho Volta
112 GN Savings and Loans Limited Dzemeni Volta
113 GN Savings and Loans Limited Aflao Volta
114 GN Savings and Loans Limited Adaklu Waya Volta
115 First Allied Kasoa Central
116 Alpha Capital Mankessim Central
117 First Allied Assin Fosu Central
118 First Allied Cape Coast Central
119 GN Savings and Loans Limited Elmina (Main) Central
120 GN Savings and Loans Limited Agona Abrem Central
121 GN Savings and Loans Limited Afransie Central
122 GN Savings and Loans Limited Abura Dunkwa Central
123 GN Savings and Loans Limited Kyekyewere Central
124 GN Savings and Loans Limited Jukwa Mc Central
125 First African Secondi Western
126 Legacy Tarkwa Western
127 Midland Bonsu Nkwanta Western
128 First Allied Anyinase Western
129 First Allied Elubo Branch Western
130 Womens World Takoradi Western
131 Unicredit Amanful-Takoradi Western
132 GN Savings and Loans Limited Elubo Western
133 GN Savings and Loans Limited Axim Western
134 GN Savings and Loans Limited Bogoso Western
135 GN Savings and Loans Limited Enchi Western
136 GN Savings and Loans Limited Awaso Western
137 GN Savings and Loans Limited Tanokrom Western
138 GN Savings and Loans Limited Takoradi Western
139 GN Savings and Loans Limited Beposo Western
140 First Ghana Savings and Loans Tamale Branch Northern
141 GN Savings and Loans Limited Tamale Central Northern
142 GN Savings and Loans Limited Sawla Northern
143 GN Savings and Loans Limited Salaga Northern
144 GN Savings and Loans Limited Nyankpala Northern
145 GN Savings and Loans Limited Nanton Northern
146 GN Savings and Loans Limited Nalerigu Northern
147 GN Savings and Loans Limited Makango Northern
148 GN Savings and Loans Limited Langbisi Northern
149 GN Savings and Loans Limited Karaga Northern
150 GN Savings and Loans Limited Jisonayili Northern
151 GN Savings and Loans Limited Janga Northern
152 GN Savings and Loans Limited Fulfoso Northern
153 GN Savings and Loans Limited Damongo Northern
154 GN Savings and Loans Limited Damanko Northern
155 GN Savings and Loans Limited Bunkprugu Northern
156 GN Savings and Loans Limited Bole Mc Northern
157 GN Savings and Loans Limited Banda Nkwanta Northern
158 GN Savings and Loans Limited Yunyoo Northern
159 GN Savings and Loans Limited Yendi Northern
160 GN Savings and Loans Limited Wulensi Northern
161 GN Savings and Loans Limited Walewale Northern
162 GN Savings and Loans Limited Tolon Mc Northern
163 Legacy Savings and Loans Bolga Upper East
164 GN Savings and Loans Limited Wuriyenga Upper East
165 GN Savings and Loans Limited Widana Mc Upper East
166 GN Savings and Loans Limited Tongo Upper East
167 GN Savings and Loans Limited Tempane Upper East
168 GN Savings and Loans Limited Navrongo Upper East
169 GN Savings and Loans Limited Kongo Upper East
170 GN Savings and Loans Limited Garu Mc Upper East
171 GN Savings and Loans Limited Fumbisi Upper East
172 GN Savings and Loans Limited Chiana Upper East
173 GN Savings and Loans Limited Bongo Upper East
174 GN Savings and Loans Limited Binaba Upper East
175 GN Savings and Loans Limited Bazua Upper East
176 GN Savings and Loans Limited Bawku Upper East
177 GN Savings and Loans Limited Wa Office Complex Upper West
178 GN Savings and Loans Limited Tumu Upper West
179 GN Savings and Loans Limited Nandom Mc Upper West
180 GN Savings and Loans Limited Nadowli Upper West
181 GN Savings and Loans Limited Loggu Upper West
182 GN Savings and Loans Limited Lawra Mc Upper West
183 GN Savings and Loans Limited Lambusie Upper West
184 GN Savings and Loans Limited Jirapa Mc Upper West
185 GN Savings and Loans Limited Hamile Upper West
186 GN Savings and Loans Limited Gwollu Upper West
187 GN Savings and Loans Limited Funsie Upper West
188 GN Savings and Loans Limited Busie Upper West
189 GN Savings and Loans Limited Bulenga Upper West
190 GN Savings and Loans Limited Bamahu Upper West
191 GN Savings and Loans Limited Wechiau Mc Upper West

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