Regulatory Alerts2020-11-26
Partial Cash Bailout Processes Begin Pending the Outcome of Liquidation Petitions
The Securities and Exchange Commission (SEC) of Ghana has initiated the partial cash bailout process, offering up to GHS 50,000 to clients of revoked Fund Management Companies. Affected investors must follow a streamlined three-step procedure involving claim acceptance via SMS, document submission for Know Your Customer verification, and in-person bank account activation at GCB Bank to receive the funds. While this payout covers the majority of individual and pensioner claims, validated amounts exceeding GHS 50,000 will be settled only after the conclusion of ongoing court liquidation proceedings.
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