Chattels of collapsed 347 MFIs to be auctioned

Chattels belonging to the collapsed 347 Microfinance Companies (“MFIs”) and the 23 Savings & Loans and Finance House Companies will on Monday, March 8 be auctioned.

A statement by the receiver indicated that a consortium of auctioneers Wildos Mart, Broadway Mart, and Yakamata Mart has been appointed to conduct the auction.

The statement added that “the sale of the chattels of the resolved MFIs and S&Ls will be conducted at the respective branches of the resolved MFIs and 23 S&Ls across the 16 regions from Monday 8 March 2021 until all items are sold out.

“Chattels to be auctioned include air conditioners – split/window, desk-top computers, fridges, water dispensers, swivel chairs, executive office tables/chairs, leather sofas, couches, flat-screen television sets and generators.”

All interested buyers are encouraged to contact any of the appointed auctioneers or the Receiver’s representative on 0247143593/0202731441 if any further information is required.

The central bank on Friday, May 31, 2019, announced that it had revoked the licenses of some 347 microfinance institutions in the country.

It also took similar action against some 39 microcredit institutions operating in Ghana.

A statement from the central bank said some of the institutions were insolvent while others had been out of operation for some time now.

Source: Ghana/Starrfm.com.gh/103.5FM