I am done with these Savings and Loans companies. There is no way I will ever save or deal with any of them again – Words of Hannah Appiagyei, one of the over 70,000 affected customers in the recent cleanup of the Savings and Loans sector and a trader at the Mallam Attah market, in Nima a suburb of Accra.
With a target group of SMEs and startups, about five of such Savings and Loans companies can be found in and around the market, serving most of the market women.
After over a year of trying to claim back her savings of GH¢7,000, Hannah says it has had a toll on her confectionary business.
“Just take a look around. My shelves are empty. I just need the money to boost my business, is that too much to ask? She asked.
Combing through the market, I am told stories of how several women have been affected by the closedown of these institutions even leading to the closure of tabletop businesses.
However, the affected women are unwilling to speak about the issue to save themselves the pain of recounting their loss.
“Go away, I don’t want to be on TV. I have lost my money, so what again do you want me to tell you?” were the words of a scorned customer as JoyBusiness tried to get an interview.
Although the regulator has assured that all customers will be given back their deposits, some of these women are still not convinced until they get back their money.