We won’t pay you now – Gov’t to customers of Gold Coast Securities

The government has told customers of defunct fund managers including Gold Coast, AllTime, Ideal Capital Partners, Legacy, Unisecurities among others that they should not expect to be paid now.

This is according to Deputy Finance Minister Kwaku Kwarteng who was responding to questions as to whether customers of Gold Coast will be paid as part of ongoing payments ordered by the President.

He said they should not expect to be paid now as their process is different from the collapsed Banks, Savings and Loans and Microfinance companies, much to the disappointment of customers of the defunct fund managers who received the president’s assurance with happiness.

So far, the Consolidated Bank Ghana (CBG), the designated bank for payment claims GHS200 million has so far been disbursed to 800 customers by the Receiver of the collapsed Savings and Loans and Microfinance companies since payment started on Monday, 24 February 2020. The customers, who are large churches, schools, hospitals, and associations, received text messages last night, indicating that they could access their monies.

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This has not been verified. CBG claims to have opened accounts for the customers so they can easily withdraw their funds if they want to do so.

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