PARLIAMENT SUMMONED TERKPER

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Minister of Finance, Hon. Seth Terkper, has been
summoned by the Parliament of Ghana to brief the
Members on the circumstances that led to the
collapse of some micro-finance institutions in
the Brong-Ahafo region and the three northern
regions that have brought chaos among the
people.
Terkper, according to the Business Statement
of the House, would be in parliament on Tuesday, February 16, 2016, to
respond to the purpose for which he is been invited.
His invitation to the August House was
fast track due to the plea from both sides of the
House, especially, by two senior Members
whose constituents are bearing the problem of
the collapse of the microfinance institutions,
especially, DKM, God Is Love and Justa Motors.
The Finance Minister is, therefore, expected to
touch on the possible challenges that led to
the collapse of the microfinance companies
mentioned institutions among others.
He is further expected to brief Members on
the measures the Bank of Ghana (BoG) has put
in place to ensure that those who invested in
those firms get their money back.
Terkper is also expected to touch on the way
forward in avoiding the problems some micro-
finance institutions are creating for the general
public.
Second Deputy Majority Chief Whip, Hon.
Ibrahim Ahmed, who led the call on the
Speaker, said the collapse of DKM and other
micro-finance institutions in the Brong-Ahafo region
and the three northern regions has brought
anarchy to the area.
“Mr. Speaker, there have been press
conferences from various areas, but I think
that as representatives of the people, it is
better if we will have the information from
source. So, when the Finance Minister is
invited, he should be able to tell us what
actually happened and the way forward,” he
noted.
Hon. Ignatius Baffour Awuah, MP for Sunyani
West and 2nd Deputy Minority Chief Whip,
commenting on the issue said the situation was
worrying.
“Mr. Speaker, if you look at what is happening
in the region, it is like the local economy is
breaking down because of the activities of
these micro-finances”.
“The amount of money involved is within the
range of GH?1billion and looking at a region
with a relatively low-income people, mobilizing
a total of about GH?1billion is quite a huge
sum of money. I think the honourable Finance
Minister will do us a good service if he comes
here and explains to us what led to that and
what the Bank of Ghana is doing so that at
least the people who invested in these micro-
financial institutions will, at least, be assured
of the way forward.”

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