The Aggrieved Gold Coast Fund Customers have expressed mixed feelings about the release 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.

While the announcement is welcomed, the group remains dissatisfied with the partial payment.

The convener of the group, Charles Nyame, shared that although the GH¢1.5 billion is a positive step, it falls short of their expectations.

"We are not entirely happy because it has been over six years now and our monies have depreciated. We would have wanted it to be paid in full," he is quoted as saying on citinewsroom.com

The Securities and Exchange Commission announced that the GH¢1.5 billion will be disbursed in three tranches, with the final tranche expected in December 2024.

Charles Nyame acknowledged that while the amount is not what they had hoped for, it is accepted in good faith to alleviate the suffering of members who urgently need financial support.

"We still have some of our members in critical condition who need money to take care of themselves and so it would have been a disservice to our members on the part of the leadership to have said no to this payment because it is not in full but for the sake and the lives of these suffering members of our group.

“We accept the GH¢1.5 billion in good faith and we plead with the government that it has been over six years and we want the government to expedite action to make sure that they release the remaining outstanding GH¢3.5 billion that could top up to make full payment so that we can put this matter to rest," he explained.

He urged the government to expedite the release of the remaining GH¢3.5 billion to ensure full payment and bring closure to the matter.

Nyame also reassured members that no one will receive less than GH¢50,000, with the possibility of receiving more under the current payment plan.

“We are pleading with our members not to be confused about it because no one is going to receive payment less than GH¢50,000 and every investor will receive not less than GH¢50,000 but you can receive more than GH¢50,000 with this payment plan," Charles Nyame pointed out.

ID/MA

Watch the latest edition of BizTech below:





Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Click here to follow the GhanaWeb Business WhatsApp channel