Former staff of Fund Management Companies whose licences were revoked are pleading with government to come to their aid and retrieve their salary arrears paid months after losing their jobs.
Members of the coalition of ex-staff of Fund Management Companies group are also demanding immediate addition in bailout packages to also have their severance package paid to assuage the hard times they are currently going through.
In a statement signed by the spokesperson of the coalition, Theo Paintsil, the former staff recounted how the genesis of the financial sector cleanup and its associated challenges have made life extremely difficult for them.
“Life has become so much unbearable in the midst of COVID-19 pandemic and it’s multiplying suffering effects on us the ex-staff. Some of us have been ejected from our apartments due to unpaid rents. We cannot feed our families any longer. We have been depending on family and friends, but we are at the end of the road. The suffering is too much.
“The ex-staff is therefore appealing to the government to include us in the bailout and pay our salary arrears and severance package immediately to alleviate the long-suffering.”
The request of the workers comes a day after the government announced the release of GHS3.56 billion to settle the remaining depositor claims of the 347 defunct Microfinance companies, 23 Savings and Loans and Finance Houses.
Meanwhile, the Ghana Association of Savings and Loans Company has welcomed the initiative by government to make full payments of the funds owed customers of defunct Microfinance companies, 23 Savings and Loans firms and Finance Houses.
For what they deem timely and a relief, after being given the go ahead to, be from Wednesday, September 16, 2020, have full access to their funds, depositors are hopeful of the turn of events.
The Executive Secretary of the Association, Tweneboah Koduah Boakye, commenting on the matter indicated that the government has been thoughtful about their plight.
“This is good and welcoming news which we think is coming at the right time. It is better late than never. This is going to ease some of the pressure because the initial arrangement wasn’t favorable. Some of them needed their monies and COVID-19 also came to worsen issues. So, we think that this is a piece of very good news. What we are expecting is that, just as the receiver has announced, every customer who received a text about the bond will exercise patience as the Receiver brings more details about the steps before they go to the bank”.
The Association however, advised the Consolidated Bank Ghana Limited, which is to disburse the monies, against making the collection process very cumbersome for customers.
“We also want to urge CBG to help the customers so that every necessary support is given. The reason we are also very happy is to buttress the point that the regulators are interested in the stability of the whole banking space to ensure that customers are treated fairly.”
