Taxi Driver, Microfinance case settled Amicably 

The taxi driver Fio Yohannes who sued a Microfinance Company for breach of contract has finally reached an amicable settlement with the company on the advice of an Accra High Court.

According to Fio, he is happy with the agreement but failed to disclose the details. 

Fio sued the company for the recovery of an amount of 32 thousand, 390 cedis and damages for breach of contract. 

Former President Jerry John Rawlings led the taxi driver to the court after his earlier attempt to mediate in the case failed. 

At the last hearing of the case, the judge Justice Robin Batu advised the two parties to reach an out of court agreement.  

According to the statement of case filed by Fio, in May 2013 he entered into an agreement with the Microfinance Company for the hire purchase of a salon car valued at fifteen thousand one hundred and seventy two cedis to operate as a commercial vehicle.  

Under the agreement, he was also to pay a total interest of the same amount within the thirty months duration of the agreement.

Fio claimed he paid an initial installment of two thousand four hundred cedis and made a weekly payment of about two hundred and thirty six cedis for twelve months. 

After operating the vehicle for a year the vehicle was involved in an accident and was written off by the insurer. 

The finance company however failed to replace the vehicle for Fio prompting him to file the suit at the High Court.

GBC