The Receiver for the collapsed 347 Microfinance Companies (“MFIs”) and the 23 Savings & Companies, Eric Nana Nipah, is in the process of selling another set of landed properties belonging to some of the defunct firms.

Mr. Nipah had earlier in March 2021 announced the sale of some of the properties of the affected firms.

At the moment, the Receiver is calling for bids from persons interested in acquiring any of the 24 advertised properties located in the Greater Accra, Central, Eastern and Bono East Regions.

“Interested bidders who want to inspect the properties or have enquiries may visit the receivership website on http://www.ghreceiverships.com or contact the Receiver’s representative, Yvette Bourreau, on yvettebourreau@yahoo.com or 0559416841 to reserve an inspection appointment,” Mr. Nipah said in a statement.

“Details of the condition for the sale of these properties are set out in a sales memorandum, which can be assessed on the website above,” the Receiver added.

The Receiver in the statement added that all bids are to be submitted on or before 4pm on Friday, November 26, 2021.

Interested bidders should submit their bids in a signed and dated formal letter to the following address:

The Receiver

No. 54 Olusegun Obasanjo High Way

Opposite Accra Girls Senior High School

Accra

Background

Pursuant to Section 123 (1) of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930), the Bank of Ghana on 31 May 2019 and 16 August 2019 revoked the operating licenses of 347 insolvent Microfinance Companies and 23 Savings & Loans and Finance House Companies respectively.

Most of the affected firms according to the central bank were either insolvent or had folded up.