Customers of defunct Saving & Loans, MFIs to receive GHS 3.56bn in cash
An amount of GHS 6.07 billion had already been released to some depositors of these resolved companies in cash and bonds, leaving an outstanding amount of GHS 402 million to be paid to the remaining depositors. The statement explained "Sensitive to these concerns and in order to provide additional liquidity to the financial sector, Government has made available to the Receiver/Official Liquidator additional cash amounting to approx.GHS3.56billion, equivalent to the total value of the Bond component of funding required to fully satisfy the indebtedness of the resolved entities to their body depositors. It is the expectation that this additional cash of approx. GHS3.56billion will replace the Commercial Paper which has been issued by Government in favour of affected depositors of these companies in resolution."