B/A: Gh¢2.3bn investments locked up in microfinance scam

Over 400 customers of Vision Gate Microfinance Limited in the Brong Ahafo region have their investments locked up.

The owners are unable to account for investment totaling Gh¢2.3 billion and have gone into hiding after locking up the office.

According to the customers, the company started as a Susu entity before becoming a microfinance company about three years ago. The customers noted that they had been chasing the owner of the company Kwabena Nsiah for their money, but his whereabouts is unknown.

The Chairman of the Concerned Customers of Vision Gate Microfinance Company Limited Emmanuel Osei Acheampong told Starr Business all means to get their money back have proved futile.

“It started as susu and somewhere in 2014, the owner Mr. Nsiah said the Bank of Ghana has upgraded him  from a susu company to a micro-finance company  and we all saved there but for sometime we went to the office and it was locked up, we called him, went to his house and he is no where to be found”.

This latest issue is coming on the heels of similar scams in the same region concerning DKM and God is Love Microfinance. Thousands of people were scammed with scores dying over depression. The NPP government promised to reimburse them during the electioneering.