By Alex Boye
Information gathered reveals that offices of SIC life savings and Loans in some regional capitals of the country have been closed, making it difficult for customers to assess their savings and retirement funds Customers of SIC Life Savings and Loans (SIC Life S&L), formally SIC Life Trust Finance Limited, have been disappointed over the situation after their savings of over GHC20Million cedis were locked up.
Some government officials and individuals within the Koforidua metropolis are currently crying over their locked up savings and retirement funds.
Weeks ago some aggrieved customers of the savings and Loans company filed a writ at the High Court seeking an order to compel the company to pay them the maturity values of their investments on the due dates which the plaintiffs say have elapsed.
Interestingly, the company’s ‘Susu’ collectors who are assigned to offices, shops and homes of customers to collect the daily savings have vanished and are nowhere to be found.
The issue has started having negative impact on the customers of the company who are mostly pensioners as their inability to purchase the monthly drugs is impacting their health.
One of the affected customers , Emmanuel Quarshie in a statement said , “We started saving with the company with the hope of getting loans and also protecting our future, but here we are, our huge sums of money have been locked up for no reason.”
According to him, they could not meet any person in their various offices after their numerous efforts to get in touch with them for the monies. “initially, we were comfortable dealing with the company because it is a public venture, but we have been disappointed at the end,” he disclosed.
Meanwhile, all efforts to get in touch with the officials of SIC Life Savings and Loans have proven unsuccessful.
C Life Savings and Loans Company Limited was licensed by the Bank of Ghana under the Banking Act, 2004 (Act 673) on 27th July 2010 to operate the business of a finance house
The company received the license to operate as a savings and loan on 15th July 2015. SIC Life S&L is a wholly owned subsidiary of SIC Life Company Limited, Ghana’s leading Life Insurance Company.
The short to the medium-term strategic priority of the company is to become a highly profitable non-banking financial institution that is able to deliver sustainable returns to its shareholders by offering high-quality and innovative products and services with competing interests.
