The Securities and Exchange Commission (SEC) has promised to relay the petition of the aggrieved customers of the defunct Gold Coast Fund Management to the appropriate quarters.
This comes after a three-day picketing at the premises of the commission. The customers are demanding payment of their locked-up funds after the company was declared insolvent in 2019.
Dr. Godwin Ansah, Head of Communications and External Affairs at SEC, received the petition on behalf of the Director General and assured that his outfit will expedite processes to ensure these customers are paid on time. “We have paid over 73,000 claims with about GH¢1.3 billion so far,” he said. “We are committed to paying these depositors across the country their due amount in the shortest possible time and will continue to address these issues and support the process to ensure the needful is done.”
The defunct Gold Coast Fund Management was one of several financial institutions that collapsed in Ghana in recent years, leaving thousands of customers without access to their funds. The government has set up a bailout fund to help pay off some of these debts, but many customers are still waiting for their money.