Managing Editor of the National Forum Newspaper and a known activist of the Convention People's Party (CPP) James Kwabena Bomfeh has cautioned Ghanaians against investing in "mushroom" microfinance businesses cropping up in the country.
Following the closure of DKM and some 70 other Microfinance and Money-lending Institutions by the Bank of Ghana over some shady deals and unscrupulous operations, James Kwabena Bomfeh wants Ghanaians to be vigilant and discerning in making investments.
According to him, the citizenry should not just jump to deposit their monies in a business that has little or no legal record to back their existence.
The Sunyani-based microfinance company, DKM, has been shut down by the Bank of Ghana because according to the BOG audit; the company has consecutively flouted the directives of the Bank.
The company is also said to have no investment in the country and engaged in unfeasible operations.
Though the BOG sent a prior notice to Ghanaians to be wary about DKM, some people went ahead to deposit their earnings with the company and are now angry at the authorities over recent revelations regarding the company.
Speaking on Peace FM's Kokrokoo, James Kwabena Bomfeh blamed the customers of DKM for ignoring all the warning signs to deposit their monies in the microfinance company.
To him, the people partly deserve their predicament because they were "selfish and greedy".
He wondered how the customers expected DKM to double their monies when their operations smacked of deceit.
The company shutdown, according to the CPP guru, should serve as a lesson to Ghanaians. |
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