More than 500 traders in Kasoa in the Central Region have reportedly lost their money after a suspected loan company allegedly disappeared with deposits collected from them.
The affected traders say they paid GH¢1,200 each as a security deposit after being promised access to loans of up to GH¢10,000 to support and expand their businesses.
However, after collecting the payments, the company’s representatives allegedly stopped responding to calls and have failed to provide the promised loans or refund the money paid by the traders.
The incident has left many of the affected business owners frustrated and worried, with some claiming they relied on the expected loans to improve their businesses and support their daily activities.
The total amount allegedly lost by the traders could run into hundreds of thousands of Ghana cedis, based on the number of people involved and the amount each person paid.
Some victims have called on the relevant authorities, including the police and financial regulators, to investigate the matter and help them recover their funds.
