Commercial News

Gold Coast Fund Management says GH¢60m paid to customers so far

The Managers of the Gold Coast Fund Management (GCFM) says, has so far, nearly GH¢60 million has been paid to aggrieved customers and has given the assurance that more payment would come.
“Management is mobilising funds to meet the needs of pensioners, urgent situations and settle arrears due from transactions processed last year,” it added.
In a statement, copied to the Ghana News Agency, in Accra, it also assured its customers about plans to prudently manage their investments, while working assiduously to redeem funds from ongoing projects and other companies it has placed funds with.
“Gold Coast Fund Management remains open for business, engages customers daily and is working with its regulator to find better solutions to meet the needs of its customers,” the statement issued by the Corporate Affairs Department said.
The assurance comes against the backdrop of threats by customers of the in the Ashanti Region to stage a demonstration within five days if the Government did not intervene to get their locked-up funds released to them.
It urged the customers to engage its representatives at options@gcfmghana.com.
The GCFM has 100,000 retail customers.
The Company last year said it was working to migrate its Structured Funds customers to alternative products, as the Securities and Exchange Commission had directed it to cease operating the scheme.
However, customers who would insist on withdrawing their funds would be settled in a three-year instalment payment plan from March 2019.

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Source: GNA

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