Prime News Ghana

Registrar-General begins another investor engagement to pay customers of Fund Management Companies

By Justice Kofi Bimpeh
Jemima Oware
Jemima Oware
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The Registrar General, Jemima Oware will today, November 25 begin engagement with another set of investors of defunct Fund Management Companies.

The creditors meeting according to the Registrar General will allow her to review the concerns of the investors.

Concluding this engagement will allow the Registrar General to start another payment process of payment to customers of eight fund management firms.

 According to Jemima Oware, the meeting will be held from 8: 30 am to the close of the day.

"From the 25th to the 26th of November I will be holding creditor meeting and class meetings. On the 25th I will be holding creditor meeting for all the eight companies, I will schedule it like I did the last time it will start at 8:30 am to the end of the day. Every company will have a slot and the next day I will do a virtual class meeting for all the investors and after that, they will be able to join out for the bailout package which government is offering with GCB capital."

She explained that as long as there is no court order from any of the fund management companies they will continue with the payment process.

The Securities and Exchange Commission, SEC also said the government has approved a partial payment of up to GHS50,000 to customers of defunct fund management companies including Blackshield.

SEC in a statement said they are to make this payment “while the court process on the liquidation petition and other matters continue”.

“The Securities and Exchange Commission (SEC), acting within its mandate of protecting investors and the integrity of the market, wishes to announce the outcome of its deliberations with Government regarding an agreed social and humanitarian intervention for all remaining customers of the failed Fund Management Companies.”