Former employees of defunct microfinance firms to receive unpaid salaries from BoG

Former employees of defunct microfinance firms to receive unpaid salaries from BoG

- The Bank of Ghana is ready to pre-finance unpaid salaries of former employees of defunct savings and loans companies

- This was announced by the government-appointed reciever, Eric Nana Nipah

- According to Nipah, payments would begin from 13 July

Our Manifesto: This is what YEN.com.gh believes in

YEN.com.gh has learned that the Bank of Ghana (BoG) has agreed to pre-finance the unpaid salaries of former employees of 347 defunct microfinance and 23 savings & loans firms.

The BoG has also agreed to exit packages for the same groups of people as well as finance houses.

The details of the package were shared by the government-appointed receiver, Eric Nana Nipah.

Former employees of defunct microfinance firms to receive unpaid salaries from BoG

Eric Nana Nipah Source: The Independent Ghana
Source: UGC

READ ALSO: IES gives reasons for the call for Africa's transition to renewable energy

Per a report by citibusinessnews.com, Nipah explained that the move is to help alleviate the economic impact of the coronavirus on individuals and businesses.

Nipah further indicated that from Monday, 13 July, his office would begin consultations with approved representatives of the former employees.

The decision, he noted, would make clear the process of payment, which is set to begin on Monday.

He added that only former employees who have been validated would be given outstanding salaries and exit packages.

In other news, the Coalition of Aggrieved Customers of Menzgold has called on their members to go out to register in the ongoing voters' registration exercise.

According to them, the government has played a key role in enhancing their challenges and, as such, it is important to vote them out of power on 7 December.

The coalition reminded its members that the power to change the government rests with them and it is therefore important that they exercise their rights to vote.

READ ALSO: COVID-19: Government to support the manufacturing sector for economic revival

Enjoyed reading our story? Download YEN's news app on Google Playstore now and stay up-to-date with major Ghana news!

Faces of Ghana: 21-year-old female boxer's dream of becoming a world champion:

Subscribe to watch new videos

Want to be featured on YEN.com.gh? Send us a message on our Facebook page or on Instagram with your stories, photos, or videos

Source: Yen

Online view pixel