We Have Not Shut Down – Databank CEO

Investment and fund management firm Databank has not shut down its operations, the chief executive Kojo Addae-Mensah has said.

Addae-Mensah said staff of the company are being attacked and threatened by some clients and in order to preserve their lives they have been asked to work remotely, effective Thursday (22 December).

A few weeks ago, Databank communicated to their customers via email that its operations have been affected by the liquidity challenges that have rocked the sector, owing to the “macroeconomic crisis” facing the country, which has also been compounded by the debt exchange programme.

It said the crisis had resulted in the company’s inability to pay withdrawal requests and impacted its original two-week estimate for withdrawals.

The development has led to attacks and threats on the lives of staff of the company, the management said.

Speaking to Kwaku Nhyira-Addo on The Asaase Breakfast Show on Thursday (22 December), Addae-Mensah said he has personally come under threat by some clients.

“Some of the staff have been physically assaulted,” the CEO said. “In fact, I have been physically assaulted. Last Monday, there was this lady who eventually assaulted me, abused me and threatened that she was going to track me down and kill me.”

“The last thing I want is one of our staff to be injured… but thankfully we have the capacity to work remotely. So, it is not like we have shut down completely, but I think for the safety of our staff and access to the firm, we think is prudent to work remotely.”
Apology

Addae-Mensah also apologised to clients for the inconvenience the development may have caused to them.

“Let me use this medium to profusely apologise to all clients, sympathisers and everybody, it is not like we did anything untoward, we have followed the law, every direction, we have done everything right,” he said.

Listen to Kojo Addae-Mensah in the attached audio clip below: