The Aggrieved Gold Coast Fund Customers have expressed cautious optimism following the announcement of a GH¢1.5 billion bailout package for investors affected by the collapse of fund management companies whose licenses were revoked in November 2019.
Speaking on Accra-based Citi FM, the group’s convenor, Charles Nyame, acknowledged the relief the announcement brings but emphasized that it falls short of their expectations.
“We are not entirely happy because it has been over six years, and our funds have depreciated. We would have preferred a full payment,” he remarked.
The Securities and Exchange Commission (SEC) disclosed that the GH¢1.5 billion will be disbursed in three tranches, with the final tranche expected by December 2024.
Mr Nyame noted that, while the amount is less than what was hoped for, it is accepted in good faith for the sake of members who are in urgent need of financial assistance.
“Some of our members are in critical condition, and it would have been a disservice to refuse this payment because it is not in full. For their sake, we accept the GH¢1.5 billion in good faith. However, we urge the government to expedite the release of the remaining GH¢3.5 billion to settle the full amount and finally resolve this issue.”
He further called for calm among members, assuring them that no one will receive less than GH¢50,000 in this initial payment, with the possibility of receiving more depending on individual cases.
Source: Adomonline
READ ALSO: