- GH₵700m released to customers of collapsed fund managers.
- Part of GH₵1.5bn allocation for relief.
- Payments in 3 tranches.
- Aims to ease stress on affected individuals.
The Minister for Finance, Dr. Mohammed Amin Adam, has announced the release of GH₵700 million to customers of collapsed fund management companies.
This amount represents the first tranche of a GH₵1.5 billion allocation aimed at providing relief to affected individuals.
The allocation was outlined in the 2024 mid-year budget review and is intended to mitigate the stress on affected customers.
Dr. Amin Adam confirmed that the payments will be made in three tranches during a monthly economic update at the Finance Ministry on August 29.
The Minister explained that the first tranche of GH₵700 million has been processed and released to the Securities and Exchange Commission for distribution.
The remaining GH₵800 million will be released in two subsequent tranches to affected customers.
Dr. Amin Adam emphasized that the release of funds is intended to provide much-needed relief to individuals whose funds have been locked up.
The Minister instructed the Controller and Accountant General to release the funds to mitigate the stress on affected persons.
The GH₵1.5 billion will be released in three tranches to ensure that all affected customers receive relief.
The release of funds is a significant step towards addressing the challenges faced by customers of collapsed fund management companies.
