Ghana Commercial Bank Capital Limited has resumed payments of funds to clients of liquidated Fund Management Companies (FMCs).
Payments made so far, according to the Managing Director (MD) of GCB Capital, Kofi Awuku, amount to some Ghs 170 million with 8,000 clients receiving their locked-up funds.
GCB Capital is expected to continue payments to the next badge of clients beginning Monday, January 18, 2021.
Speaking to the media, Mr Awuku stated that his outfit expects to make payments between Ghs 25 million and Ghs 60 million from Monday, January 18 to Friday, January 22.
“Going by the trend, we are looking at paying between Ghs 25 million and Ghs 60 million by the end of the week and this is because payments to clients who have already completed the onboarding process are yet to be approved and also when word goes out that we have started payments for this week, clients who have relaxed in the onboarding process or probably didn’t believe payments were going to be made will quickly activate the onboarding process. So we are looking at between Ghs 25 to Ghs 60 million worth of claims paid by Friday,” he said.
Government has allotted Ghs 1.4 billion to payments of validated claims of clients.
The Amalgamated Fund Ghana Limited, is the same Special Purpose Vehicle (SPV) being used to pay clients of FMCs currently under official liquidation.
The Amalgamated Fund Ghana Limited is managed by GCB Capital Limited, a subsidiary of GCB Bank Limited
