Angry Databank customers threaten to burn down the company

Databank is facing a tough time meeting the expectations of its clients as their withdrawal requests are not honoured.

The situation has compelled the fund management company to resort to remote operations and asked all staff to work from home.

Databank alleged that some investors who fear they might be on the verge of losing their hard-earned savings have attacked workers of the company both verbally and physically.

It is now emerging that some of the disgruntled customers of the firm have threatened to set it ablaze out of frustration.

“It is a very serious matter. We have had people threatening that they will burn down the building and you know, you should understand that these are people’s life savings,” Chief Executive Officer of the firm, Kojo Addae-Mensah told JoyNews on Thursday, December 22.

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He said that just like other fund management companies in Ghana, Databank is facing liquidity challenges occasioned by the prevailing economic crisis.

He further disclosed that aside from his staff, he himself has been assaulted physically because of the situation the Databank is going through.

“Some of the staff now were physically assaulted. In fact, I have been physically assaulted…because of all that is going on.

“We have been having conversations with our regulators, the Ministry, the Securities and Exchange Commission and the Central Bank. We need some liquidity support.

“They have heard us but unfortunately the liquidity support is yet to come. In one of the releases that the regulators came up with, there was supposed to be a financial stability plan that we were all going to tap in to support the vulnerable but it still has not materialised,” myjoyonline.com quoted Addae-Mensah to have said.

Meanwhile, the company’s management has beefed up security around its premises.

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