Inject Gh¢50m into operations or remain shut, BOG to DKM

Aug 11, 2015

News has gathered that the Bank
of Ghana has directed DKM Microfinance
Limited to inject a total of GHC 50 million into
its operations before it is allowed to commence
operations. Documents cited by Citi Business News reveal
that the directive is part of recommendations
made by the BOG after receiving an audit
report from Messers MGI Lobban Hyde
Chartered accountants who were
commissioned to conduct special audit of DKM for the period between 25th October 2013 to
11th May 2015. The latest directive, Citi Business News
understands, must be backed by documentary
evidence after which the Bank of Ghana would
then give additional directives concerning the
resumption of full operations of DKM. Per the new directive, the Bank of Ghana says
it will be compelled to commence liquidation
procedures of DKM Microfinance Limited if the
company fails to inject the 50 million cedis
after the expiry of the 90 day moratorium
period which elapses today. DKM has branches in Sunyani, Bolgatanga
and Wa.