A customer of Gold Man Savings and Loans has told Joy News that she has to beg for food to feed herself and her three children after her investment got locked up.
This was after the Bank of Ghana (BoG) revealed in November 2018 revealed that more than 200 microfinance institutions, as well as savings and loans companies, were distressed.
The Central Bank said the companies were unable to either pay up returns promised clients or in some instances, even pay up the principals of customers.
This situation has left many customers of these financial institutions in a difficult situation.
Meanwhile, when the reporter contacted the Goldman Savings and Loans, they say, though the company is facing liquidity challenges, they were working to help pay back Ama's money.
Watch Joy News’ Nancy Emefa Dzradosi’s report.
Ama Adobea has since been paid her money with the company.
Have your say
More Business Headlines
- Ghana among RMB’s 2019 top 10 Investment Destinations in Africa
- Brexit costing UK economy $1 billion a week
- Private sector credit growth expected to rebound – BoG Survey
- SEC assures investors of vibrant asset management industry
- Ghana's first facility services app launched
- ‘Benefits payments are accurate’ – SSNIT fends off Organised Labour allegations
- Gov't through FDA rallies supermarkets to promote locally produced goods
- Billionaire banker David Rockefeller dies aged 101
- Accra Mall launches Family Club to reward families
- Google regrets 'minor glitch' that caused cedi to plummet
- Fidelity Bank outdoors digital branch at KNUST
- Cedi depreciation will be credit negative for Ghana banks – Moody’s warns
- Alliance of Young Entrepreneurs pays familiarisation visit to NBSSI
- Airtel Nigeria in talks with NSE for listing on Nigerian Stock Exchange
- $1.3 trillion and 7,000 finance jobs leaving Britain because of Brexit