The Ministry of Finance, led by Dr. Mohammed Amin Adam, has initiated the release of GH¢700 million, the first tranche of an additional GH¢1.5 billion, to support the Securities and Exchange Commission (SEC) in bailing out remaining Asset Management Companies (AMCs), including Blackshield Fund Management Ltd.
This move aims to alleviate the financial burden on affected individuals.
During a press conference in Accra on August 29, Dr. Amin Adam announced that the funds had been processed and instructed the Controller and Accountant-General to release the first tranche. The total amount of GH¢1.5 billion will be disbursed in three tranches.
This bailout scheme will fully settle the claims of 82,096 investors under Blackshield, representing 92%, and 12,069 investors from other Fund Management Companies (FMCs), representing 78%. In total, 94,165 investors (90%) out of 105,178 validated claims will benefit from this intervention.
Dr. Amin Adam emphasized that this move demonstrates the government’s commitment to providing relief to investors, particularly pensioners, despite the challenging fiscal environment.
Bainamultimedia/Khadijahtu Kubura Kailani
Leave a Reply