Ho: ‘No Money, No Vote.’ as Voltarians Hit Streets Over Fake Microfinance

HUNDREDS of residents at Ho and other parts of the Volta Region who have been duped by some microfinance institutions and other financial schemes have cried out to government to help retrieve their monies. They have therefore threatened to boycott the November polls should government fail to assist them, a position amplified on one of their numerous placards; ‘No Money, No Vote.’
The residents made the threat when they hit the principal streets in Ho to register their frustrations at the alleged scammers. Little Drops, Prosperity and Good Health Develop Winners, Royal Foundation, Global Leads, Royal Care, Marceph Wealth, JODEQ Network, Clear Image and Divine Rain among others were fingered as the perpetrators of the unholy act.

The victims were blaming the government because they claimed most of the alleged scammers operated within jurisdictions of the various district and municipal assemblies and were dully registered by these assemblies.

In a petition presented to the Volta Regional Coordinating Council (VRCC) the protestors explained that the companies showed documents from the Registrar Generals Department, Bank of Ghana and Municipal Assemblies to prove their legitimacy.

Handing the petition to the Acting Chief Director of the Regional Coordinating Council, Christoph Afenyo, the group said, over 80,000 victims across the country could not retrieve their investments. “We therefore urge government to bring all the defaulting institutions to book to pay all our bonuses to us as promised because they traded with our monies for years which brought them a lot of dividends,” the group said.

They also called on government to investigate various banks especially Fidelity, Stanbic and Unity Rural banks which collaborated with the schemers to commit these dubious activities. Similar scams hit the Brong Ahafo, Upper East and West regions by DKM, God Is Love Fun Club, Jastar Motors and Investments Company Limited among others.

Similarly, clients lost a lot of money after they could not retrieve their deposits from these phony institutions. The intuitions were later closed down by the Bank of Ghana.