‘No money, no vote’ – V/Region victims of microfinance scam

Some residents of the Volta Region who were victims of a microfinance scam are threatening to boycott the general elections if government fails to assist them to retrieve their monies.

Reports of some microfinance companies swindling unsuspecting clients took center stage in the country’s socio-economic discourse early this year, as victims resorted to various means to recover their funds.


Customers who had huge deposits with microfinance companies such as  ‘Little drop’ investment club, ‘Prosperity and Good Health’ club and ‘Clear Image Investment’ anticipating high returns, could not recover their investments as owners of these firms cannot be traced.

Clients of some of the companies which were in the Volta Region, held a demonstration in Ho on Thursday, where they accused the Bank of Ghana and the government of consciously allowing the companies to swindle them before declaring their activities as illegal.


“There were government logos on their offices, which means they were duly registered” one of the aggrieved investors told Citi News.

Addressing the media, the leader of the demonstrators, Maxwell Donku, said that although government is making efforts to retrieve investment for victims in other regions, those in the Volta Region are yet to benefit from any intervention.

“Our slogan is that; “No Money NO Vote” simply because they claim Volta Region is their world bank. Now we want to proof to the government that, we are also wise. They have taken money from us to pay other groups in Brong Ahafo, Nkoranza and those areas without refunding our monies,” he said.

By: King Nobert Akpablie/citifmonline.com/Ghana