{"id":693227,"date":"2019-08-27T17:06:12","date_gmt":"2019-08-27T17:06:12","guid":{"rendered":" <br><div data-io-article-url=\"https:\/\/www.adomonline.com\/success-story-unik-life-microfinance-to-pay-depositors-funds-on-wednesday\/\">\n            <div class=\"td-post-featured-image\"><figure><img width=\"452\" height=\"670\" class=\"entry-thumb td-modal-image\""},"modified":"2019-08-27T17:06:12","modified_gmt":"2019-08-27T17:06:12","slug":"success-story-unik-life-microfinance-to-pay-depositors-funds-on-wednesday","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/08\/27\/success-story-unik-life-microfinance-to-pay-depositors-funds-on-wednesday\/","title":{"rendered":"Success Story: Unik Life Microfinance to pay depositors funds on Wednesday"},"content":{"rendered":"<p><\/p>\n<div data-io-article-url=\"https:\/\/www.adomonline.com\/success-story-unik-life-microfinance-to-pay-depositors-funds-on-wednesday\/\">\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"452\" height=\"670\" class=\"entry-thumb td-modal-image\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2019\/08\/WhatsApp-Image-2019-08-27-at-9.38.29-AM.jpeg\"   alt=\"\" title=\"WhatsApp Image 2019-08-27 at 9.38.29 AM\"\/><figcaption class=\"wp-caption-text\"> Executive Director of UNIKLIFE,, Kwame Adu-Mante<\/figcaption><\/figure>\n<\/div>\n<p>The management and board of UNIK LIFE Micro Finance have finally concluded discussions with the Receiver, Eric Nana Nipa to enable the Micro Finance Company to<strong> <\/strong>begin the process of paying all depositors\u2019 funds.<\/p>\n<p>It would be recalled that the BOG in a recent move aimed at cleaning up the microfinance sub-sector of the economy, added UNIKLIFE to the list of insolvent microfinance companies in the country and revoked the operating licenses of such organizations.<\/p>\n<p>However, UNIKLIFE insisted that it was solvent and ready to<br \/>\nwork with the BOG to correct the minor infractions that the BOG noted in its<br \/>\nOFSID report<\/p>\n<p>The Directors of Uniklife maintained that they didn\u2019t want<br \/>\nthe Government of Ghana to spend a pesewa of scarce tax payer\u2019s money to bail<br \/>\nthe company out when it had enough funds to do so by itself.<\/p>\n<p>According to the Executive Director of UNIKLIFE, Kwame Adu-Mante<br \/>\nthe Management has concluded arrangements with the BOG\u2019s appointed receiver, Mr<br \/>\nNipa of PWC to pay all depositors, beginning this Wednesday, 28 August.<\/p>\n<p>Mr Adu-Mante explained that UNIKLIFE is a structured, well-functioning<br \/>\ncorporate brand that had no liquidity issues. <\/p>\n<p>He said: \u201cWe at UNIKLIFE support all efforts by the BOG to clean up the microfinance space to restore some sanity into the system but we found it a bit surprising that we were added to the list of insolvent companies.\u201d<\/p>\n<p>According to the management, 92% of its depositors will be<br \/>\npaid from Wednesday under the supervision of the receiver.<\/p>\n<p>Mr Adu-Mante<br \/>\nalso said the management of UNIKLIFE met most depositors including the top 10<br \/>\ndepositors on the proposed payment plan, on 15<sup>th<\/sup> August 2019 at the<br \/>\noffices of Uniklife. <\/p>\n<p>\u201cWe have contacted all other depositors to meet management<br \/>\nand staff on the scheduled date for this exercise to be conducted,\u201d he Added<\/p>\n<p>Regarding the loan recovery, the Executive Director<br \/>\nexplained that the management is recovering all loans as per loan repayment<br \/>\nschedules agreed with customers. <\/p>\n<p>\u201cWe have recovered over GHS150k in June and July only,\u201d Adu-Mante<br \/>\nsaid.<\/p>\n<p>He was quick to add that UNIKLIF MICRO FINANCE had a very<br \/>\ntolerable and relatively low rate of non-performing loans.<\/p>\n<p>He expressed profound appreciation to the receiver and the BOG for the corporation and hoped that the process will go on smoothly to ensure some reinjection of confidence in the sector. <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Executive Director of UNIKLIFE,, Kwame Adu-Mante The management and board of UNIK LIFE Micro Finance have finally concluded discussions with the Receiver, Eric Nana Nipa to enable the Micro Finance Company to begin the process of paying all depositors\u2019 funds. It would be recalled that the BOG in a recent move aimed at cleaning up [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":693228,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-693227","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Success Story: Unik Life Microfinance to pay depositors funds on Wednesday - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/08\/27\/success-story-unik-life-microfinance-to-pay-depositors-funds-on-wednesday\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Success Story: Unik Life Microfinance to pay depositors funds on Wednesday - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Executive Director of UNIKLIFE,, Kwame Adu-Mante The management and board of UNIK LIFE Micro Finance have finally concluded discussions with the Receiver, Eric Nana Nipa to enable the Micro Finance Company to begin the process of paying all depositors\u2019 funds. It would be recalled that the BOG in a recent move aimed at cleaning up [&hellip;]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/WhatsApp-Image-2019-08-27-at-9.38.29-AM.jpeg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/27\\\/success-story-unik-life-microfinance-to-pay-depositors-funds-on-wednesday\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/27\\\/success-story-unik-life-microfinance-to-pay-depositors-funds-on-wednesday\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"Success Story: Unik Life Microfinance to pay depositors funds on Wednesday\",\"datePublished\":\"2019-08-27T17:06:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/27\\\/success-story-unik-life-microfinance-to-pay-depositors-funds-on-wednesday\\\/\"},\"wordCount\":403,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/27\\\/success-story-unik-life-microfinance-to-pay-depositors-funds-on-wednesday\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/WhatsApp-Image-2019-08-27-at-9.38.29-AM.jpeg\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/27\\\/success-story-unik-life-microfinance-to-pay-depositors-funds-on-wednesday\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/27\\\/success-story-unik-life-microfinance-to-pay-depositors-funds-on-wednesday\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/27\\\/success-story-unik-life-microfinance-to-pay-depositors-funds-on-wednesday\\\/\",\"name\":\"Success Story: Unik Life Microfinance to pay depositors funds on Wednesday - 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