A process to liquidate troubled Diamond Microfinance Company (DKM) is expected to be completed by the end of July this year.

The Registrar-General’s Department, who are handling the liquidation process, told Accra-based Citi FM recently they have made a significant process to sell out properties of the Ashanti Region-based microfinance company by close of next month.

Chief State Attorney in charge of the region, Nana Ama Akyiaa Prempeh, told the station over 7,000 people have so far been processed for payment after the company’s assets are sold.

“When we sent out the information for creditors to send their information to us, we were collating the numbers and the quantity of how much DKM owed, what we will distribute will be determined by the outcome, “she said.

The Registrar-General’s Department under the Ministry of Justice was recently engaged by the Bank of Ghana (BoG) to handle the liquidation processes of DKM after scores of Ghanaians lost millions of cedis after the microfinance company run into financial challenges.

The company was alleged to have invested about GH¢77 million of its customers’ deposits in its subsidiary companies – DKM Airlines Company, DKM Fuel Station, DKM Transport, DKM Shea Butter Company and DKM Mining Company, among others.

Millions of cash deposited by the customers were locked up, following the BoG’s move in 2015 to stop the company, including others from operating over concerns that there were violating the microfinance regulations.