Customers eligible for the government’s bailout package for investors with locked-up funds will soon see their accounts credited. This development follows the conclusion of discussions between GCB Capital, the lead fund manager, and investors regarding the roadmap for the initial tranche of payments. The finalized terms indicate that funds are expected to be disbursed by the end of September.
The investor engagement held last week was aimed at updating stakeholders after the government announced the release of GHS 700 million as the first installment of the GHS 1.5 billion bailout package. Payments will be made on a pro-rata basis to ensure relief for all investors with outstanding balances. Additionally, the Securities and Exchange Commission has confirmed that investors will receive up to GHS 50,000 or 15% of their outstanding value in this phase.
For redemption, new investors must visit the registrar’s office or the company’s website to accept the bailout agreement, with Fund account details sent via text from PwC within two business days. Existing investors are required to update their records using their Ghana cards before payments can be processed into newly created GCB accounts for those with closed bank accounts. GCB is committed to effectively administering the government’s bailout program to alleviate the financial burden on investors.
SOURCE: https://dew360.net
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