DKM Assets To Be Sold

Properties of operators of DKM Micro Finance and other micro finance institutions in the Brong-Ahafo Region are to be confiscated, sold and the proceeds used to defray the monies of customers that have been locked up in these institutions. However, the caveat is that most of the assets of the companies have been registered in the names of individuals and not the companies, making it difficult to link them to the operators. The president, John Dramani Mahama, said this yesterday when he met the media to throw more light on his government’s activities over the years. The Bureau of National Investigations (BNI) arrested four operators of microfinance companies operating in the region where customers’ investments have been locked up for months. The companies which have reportedly held their customers’ deposits ‘hostage’ for several months due to their closure by the Bank of Ghana, are  DKM Diamond Micro-Finance, God is Love Fun Club, Jastar Motors and Investments Company Limited, Little Drops Association, Care for Humanity and Eye Adom Fun Club. The arrested people are Martin Kuudening Delle, Managing Director, DKM Financial Services; Noel Nortey,   Nkoranza Branch Manager of God Is Love Fun Club; Charles Asum, Managing Director of Jastar Group of Companies and Monica Afriyie, popularly called Maame Korkor, Managing Director of God Is Love. Explaining, President Mahama said he was surprised intellectuals of high standards and pastors could stoop so low to the deceit of high interest rates and part away with their monies. He denied allegations that he and his wife know Martin Delle but only saw him (Delle) on front pages of newspapers when he and others were arrested by the BNI. The  president said the Bank of Ghana has a responsibility to monitor activities of these micro finance companies, saying because the BoG is an autonomous body the government did not want to intervene; but as it stands now, he said government and BoG will work in tandem to protect customers’ interests. He said DKM has abused the provisional certificate given to it by BoG,  adding that some of the directors had used people’s investments to make properties in the name of their families, making it difficult to trace, but had directed the BNI to identify these properties. The president noted that the sad aspect regarding some of the institutions is that they operate as social clubs so BoG finds it difficult to regulate them because they are not banking institutions. He asked politicians to stop inciting customers against the government since the Bank of Ghana is acting in the interest of the customers. He assured customers that everybody would get part of their money even if not all. He asked Ghanaians to remember Pyram and R5 to warn themselves against parting with monies to micro finance companies which quote exorbitant interests.

Source: Daily Guide