Investment and fund management firm, Databank Limited, has announced that its offices will be closed effective Thursday, December 22, and staff will work remotely following attacks and threats.
In a statement issued on Wednesday, December 21, the company said it had been hit hard by the current macroeconomic challenges and the recently announced debt exchange programme, making it difficult for the company to have access to liquidity to meet customers’ demands.
“We are hopeful that once the Debt Exchange Programme has been concluded (expected settlement date: January 5, 2023), we will be able to access the necessary funds to once again pay withdrawal requests. We are totally reliant on the Government of Ghana to pay us, so we can, in turn, pay clients,” parts of the statement read.
The situation has negatively impacted its ability to honour withdrawal requests by customers as expected.
However, while some clients have cooperated with the company, “there are several clients who have felt the need to abuse our staff physically and verbally, and also threaten their lives as well as their families.”
Databank said in the circumstance, it has “no choice but to move to a work-from-home option” and that while its offices will be physically closed, “we will continue to serve you and process transactions remotely, and all our digital channels will remain open just as we did during Covid. However, we cannot endanger the lives of staff by opening the office without any available liquidity.
“We are fully aware the current crisis in our industry is very concerning, and we continue to ask for your patience during these difficult times. We are very hopeful the Financial Stability Fund or any other Fund that the Government may provide in the interim will provide much-needed relief for you and other investors.
“We will provide another update once we have a clearer view of the situation.”
Read full statement below
