Microfinance Company Provides Fake Address

The recent phobia associated with microfinance in the country has called for proper examination of details provided by operators of the microfinance companies.

Even though these companies provide details on location and office, sometimes such details are non-existent or false.

One such company that has caught the attention of BUSINESS GUIDE is Unique Microfinance Company, which has its headquarters at Achimota Mile 7 in Accra with branches in Tema and Kpone.

Over the past two years, it has been taking deposits from clients even though the location and contacts presented by the company to Bank of Ghana had been falsified.

In a Bank of Ghana (BoG) document titled: “Microfinance Companies in Compliance with Bank of Ghana Regulations as at 31st May 2017,” on duly registered microfinance companies, the contact numbers provided on the list belonged to people who had nothing to do with the company.

Unique Microfinance Limited’s location was given as Kokrobite in the Central Region with its contact numbers- 0541396702 and 0244465033.

When the paper put a call through the first line, the respondent mentioned her name as Felicia and said she was a hairdresser’s apprentice at Makola, Accra.

The second line also got to someone who gave his name as Gilbert, and said he was no more with the company.

The company has no branch in Kokrobite, a fishing village situated about 25 kilometres from Accra on the way to Kasoa.

Additionally, the contact numbers listed above do not go to any company official.

Meanwhile, the company has advertised on its internet website that “we have three networked branches and still counting…” listing them as Achimota (its head office), Kpone and Tema.

When a call was placed through a fixed line indicated on its website, a staff denied knowledge of its branch located at Kokrobite, affirming that the company only has branches at New Achimota (Mile 7), Kpone and Tema.

A source from Bank of Ghana whom this reporter spoke to noted: “The Bank of Ghana has reportedly received numerous complaints about the company’s ‘fake contacts’ and has been investigating. It might be a mixed up but we are still investigating.”

This paper also spoke to the Chief Executive of Unique Microfinance, Kwesi Livingstone, on phone to react to the issue.

He said he has no idea how the fake details got to the database of the Central Bank.

A business desk report

 

 

 

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