The Bank of Ghana has issued a stern warning to Mobile Money defaulters regarding the repayment of their loans.
According to the apex bank, people who have for one reason or the other decided not to settle their loans which they took would have to face court.
A statement issued by the Bank of Ghana on September 27, 2022, and signed by The Secretary intimated that some loan defaulters have deliberated and refused to re-register their SIM Cards in order to avoid the repayment of the loans they took.
“As a result failure to repay such loans will attract negative repercussions on borrowers’ credit reports and could subsequently adversely affect any chance of obtaining loan facilities from other financial institutions and credit providers in future.
Read the Full Statement Below…
Ursula Owusu-Ekuful sends a strong warning to Qwikloan defaulters
If you have not settled the loan you took from Qwikloan, you need to get yourself prepared as Communications Minister Ursula Owusu-Ekuful has a warning for you.
According to the Minister, people who do owe Qwikloan do not want to have their SIM Cards registered in order to avoid settling their loans.
Although the deadline for the registration has been extended to September 2022, Madam Ursula Owusu-Ekuful has described the act of the loan defaulters as evil corruption.
“You have Qwik Loan customers who have taken facilities and people are holding back and not wanting to pay, they are saying, okay, if you want to deactivate my SIM, let’s deactivate it.
“It is a disincentive for you to attract investors into the tech space. Don’t forget that this quick loan has created a space for a new cadre of small-scale businesses, people who take ¢500 or ¢1000 and turn it around and run businesses and pay these facilities back.
“The Qwikloan, at times, has put food on the table of families, you can’t underestimate the value of this. Right now, industry players are going to be scared. How do I put money into an industry like OTT [Operate Over the Internet] when a policy directive one day could cost me millions or billions of dollars? These are the kind of policy incoherence we need to talk about,” she said on TV3.
