Regulatory Alerts2024-09-12
Release of GHS 1.5 Billion to Investors Affected by the 2019 Fund Management License Revocation
The Securities and Exchange Commission (SEC) of Ghana has approved the release of GHS 1.5 billion in three tranches to provide financial relief to investors affected by the November 2019 revocation of fund management company licenses. This bailout top-up, distributed through the Amalgamated Mutual Fund managed by GCB Capital Ltd, will pay investors the higher of GHS 50,000 or 15% of their outstanding examined claims, bringing the total settlement rate to approximately 91%. Building on GHS 4.46 billion previously disbursed to settle over 69,000 claims, the SEC directs affected investors to access funds via the official bailout portal or contact appointed agents PwC and GCB Capital for further guidance.
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