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Receiver of the 347 insolvent Microfinance companies records high patronage at ongoing auction


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The spokesperson for the Price waterhouse Coopers (PwC) established that the numbers exceeded expectations but the receiver was adequately prepared to carry out the exercise in a professional manner as possible.

PwC, the Receiver of the 347 Microfinance companies and 23 Savings and Loans and Finance houses, that suffered insolvency last year, began successful auctions of vehicles obtained from some of the insolvent companies, in yielding to its core mandate.

The spokesperson further made it clear concerning reports that were circulating about the exercise that sought to suggest that the results of the auction would have little or no impact on payments to customers.

“We have been paying depositors with validated and accepted claims for some time now. We began paying depositors of the Micro-finance companies in June 2019 and Savings and Loans in August 2019 ”, Philomena Kuzoe clarified.

The auction which is currently taking place at the College of Physicians and Surgeons hall in Accra, began on Monday 3rd February and is scheduled to come to an end on Friday 7th February.

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