Ksi: Customers of distressed First Allied Savings and Loans demonstrate


Customers of First Allied Savings and Loans in the Ashanti Region are embarking on a demonstration in connection with the financial institution’s refusal to allow customers to make withdrawals.

About 200 of the customers clad in red, gathered at the Kumasi Children’s Park on the morning of Tuesday, 2 October 2018 for the protest.

They are scheduled to march through the principal streets of Kumasi and later proceed to the office of the Bank of Ghana (BoG) in the region to petition the central bank over the matter.

The irate group will also march to the office of the Regional Coordinating Council to also petition the Ashanti Regional Minister, Simon Osei-Mensah to ensure that they receive their deposits.

The customers recently besieged the palace of Asante monarch, Otumfuo Osei Tutu II to intervene in the situation.

They said they petitioned the traditional leader because the company operates within the jurisdiction of Asanteman.

They have also called on President Nana Akufo-Addo to order an investigation into the company’s inability to pay its customers for several months.

The group members said the refusal of the savings and loans company to allow them to withdraw their deposits has affected their businesses and families.

Some customers have also threatened to take legal action against the savings and loans company.

It would be recalled that the customers of the financial institution stormed its various branches in Kumasi on Monday, 3 September 2018 to demand their savings.

Numbering over 500, the customers besieged the company’s branches at Adum, Asafo, Roman Hill and Suame Magazine among others, to withdraw their savings but were left stranded.