Bidding for defunct microfinance, S&L firms’ properties ends on March 26

The Receiver of the collapsed microfinance companies and savings and loans firms, Eric Nana Nipah, is reminding the public of the ongoing bidding process for the acquisition of landed properties of the defunct financial institutions.

Interested persons or companies have up to March 26, 2021, to put in their bids for some 24 lands and buildings across the country that belonged to the collapsed companies.

The process for receiving bids started on Wednesday, January 27, 2021.

A notice from the Receiver said, interested bidders are expected to submit their bids in a formal letter.

It says an inspection appointment can also be arranged for interested persons.

“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

Tel: +233 (0) 302761500

Attention: John Fiifi Ewool

Potential bidders who want to inspect the Properties or have enquires may visit the receivership website on www.ghreceiverships.com or contact the Receiver’s representative Michael Vondee on michael.nat007@gmail.com or 0244977797 to reserve an inspection appointment,” the letter said.

Below is the list of properties bids are open for:

Auctioning of properties of the collapsed financial institutions is part of the mandate of the Receiver to raise money to pay depositors.

The Receiver was called into action after May 31, 2019, when the 347 microfinance companies, 23 Savings and Loans and Finance Houses had their licences revoked by the Bank of Ghana as part of the financial sector clean-up.

The Bank of Ghana in accordance with Section 123(2) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) appointed Eric Nana Nipah, a Director of PricewaterhouseCoopers Ghana Limited (PwC) as the Receiver for the purposes of winding down the affairs of these institutions.

Source:Citibusinessnews