Regulatory Alerts2024-03-08
SEC Update on Bailout Program for Blackshield Fund Management Clients
The Ghana Securities and Exchange Commission issued this press release to clarify the status and delays of the government bailout program for clients of Blackshield Fund Management Limited (formerly Gold Coast). While GHS 4.6 billion has already been disbursed through partial and full payouts, the remaining funds are stalled because Blackshield is actively litigating against its license revocation and the Official Liquidator’s court petition for winding up. The Commission emphasizes that full disbursement legally requires a court winding-up order and fresh parliamentary approval, urging affected investors to remain calm and rely solely on official SEC channels for updates.
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