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New Patriotic Party (NPP) leader Dr Mahamudu Bawumia has announced that the Treasury is preparing a new rescue package for investors in the defunct Gold Coast Fund.
Dr Bawumia made the remarks during a tour of the Northern Region where he met a group of investors seeking compensation for their losses.
Investors in the collapsed Gold Coast fund have been seeking compensation for their losses following the bank’s closure.
Despite their efforts, they still face huge challenges in recovering their investments. Dr. Bawumia’s statement brings a ray of hope to these investors who have been seeking a solution to their plight.
He acknowledged the difficulties faced by investors and said the Ministry of Finance had previously provided relief of 50,000 Ghana Cedis to each investor and was currently preparing another package to alleviate their difficulties.
“We’re going to lose a lot of jobs and for some securities like Gold Coast Securities, the investments were made by individuals rather than the banking sector.
“These are not bank deposits, these are people’s investments. People basically assess the risk of investing in certain institutions themselves.
“Sometimes when they make a lot of money, we don’t hear any complaints, but when they lose money, we may hear some complaints. I know that life is not easy for many people who have deposited their provident funds, etc. into these institutions.
“The Ministry of Finance has come out with a bailout package and I think the amount they gave to each coffer was about 50,000 Ghana Cedis. I think the Ministry of Finance is preparing another bailout for them because we believe they are going through a lot of difficult times,” he said.
source: classfmonline.com
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