Round two of DKM depositors’ repayment resumes

The Official Liquidator of DKM Microfinance has resumed second round of repayment to depositors, days after the Christmas break.

At least 44,000 depositors have received their investments amounting to about GHC70 million between October and early December, 2016.

The payment process has been rough amidst a foul cry by depositors about the reduction of their investments in the course of payment.

Recorded deaths

Owner of Micky Enterprise in the Brong Ahafo Regional town of Berekum, Kwasi Addae was reported to have died after shockingly learning he was not going to get all of his GHC600,000 investment. He was handed a paltry compensation of GHC3,500 by the Liquidator.

Another customer also committed suicide in Bolgatanga after he was paid a paltry GHC10 with no tangible explanation. He had invested far more than that.

But Coordinator of the second round of payment, Derek Owusu McDaniels says the challenges came about because of the absence of effective communication.

“Initially some of the challenges we were facing were people not seeing their names and others had issues with the money but we happened to explain the issues to people,” he said.

He said Price Water House Coopers which completed the manual validation of the claims made by the depositors is only “facilitating the payment exercise” and should not be faulted in the process.

Mr McDaniels, however, noted the second round of payment would be different because they have exhausted the proof of debts process and are in the capacity to refund the “savings and some minimum balances” of the customers.

He urged those who could not find their names to file a claim for some actions to be taken on it.

Some depositors who spoke to Joy Business’ Kuuku Abban were excited the second process has been better than the previous one.

“Today all my money has been given to me and I am happy. At first when DKM came we were happy to invest our money and when they defaulted some lost hope. I gave up but I am happy now,” a depositor told the reporter.

Another said he found his name when the second list was published, adding “They gave me my money [which was] 4,000 of my investment as well as my registration fee.”