Court documents filed by Joana Quaye challenge Richard Nii Armah Quaye's claim that he alone founded Quick Credit and Investment Money Lending Limited. Ms. Quaye states she and her ex-husband jointly established the financial company in 2011. These documents are part of a legal battle over shares and company ownership.
The case centers on Ms. Quaye's assertion that she was a co-founder of the company, now known as Bills Micro-Credit Ltd. This contradicts Mr. Quaye's public statements, particularly those made on 'The Delay Show,' where he suggested her lack of involvement in his business empire. The dispute is now unfolding in an Accra High Court.
This legal disagreement is significant for Ghana's financial sector and corporate governance. Quick Credit has grown into a notable lending institution. Joana Quaye's challenge questions the narrative of its sole creation. Official records from the Registrar of Companies show Joana Quaye was listed as a shareholder on December 9, 2011. She held 100,000 shares at incorporation, while Richard Quaye held 900,000 shares. This indicates an initial joint stake.
These records are key exhibits in Ms. Quaye's application for an interlocutory injunction. She seeks to prevent Richard Quaye from selling or transferring company shares. The core of her argument is that the company was established as a joint venture during their marriage. Her legal team, Dame & Partners, is appealing a January 2026 High Court ruling. This ruling dealt with their divorce and property division.
Under cross-examination in March 2024, Richard Quaye admitted Joana Quaye owned 10% of Bills Micro-Credit Ltd. However, he described her shareholding as a 'formality.' He claimed it helped meet Bank of Ghana rules, stating one person could not own a financial institution alone. He also admitted to removing Ms. Quaye as a director without her consent. He cited her lack of higher educational qualifications as the reason, noting she only had a secondary school certificate. Ms. Quaye's affidavit counters this, stating her directorship and shareholding reflected their intent for shared ownership of marital assets.
The appeal also seeks to place an injunction on various assets. These include shares in other companies, properties, and luxury vehicles. These assets are allegedly connected to the wealth built from Quick Credit. The outcome could impact how assets acquired during marriage are divided. It also sheds light on the operational transparency of lending institutions in Ghana.