• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

SEC begins partial cash bailout process

5 years ago
in Business, highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
SEC - norvanreports

SEC - norvanreports

92
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

The Securities and Exchange Commission (SEC), acting within its mandate of protecting investors and the integrity of the securities market, wishes to inform all clients of the remaining affected Fund Management Companies whose licenses were revoked that payment processes for the Government partial bailout have begun in line with its earlier public notice on the 18th November 2020.

The partial cash bailout which involves a payment of up to Fifty Thousand Ghana Cedis (GHS50,000) will cover all clients of the remaining affected Fund Management Companies including customers of Gold Coast Fund Management Limited (now Blackshield Fund Management Company Limited).

In the end, the partial bailout being offered would result in 89% of individuals and 82% of pensioners being fully covered.

Validated claims in excess of this partial cash payout amount shall be covered after the liquidation proceedings in Court, in line with the terms being applied under the bailout package for the clients of the Fund Management Companies currently undergoing liquidation proceedings.

The SEC wishes to inform the investing public that a large number of affected clients have been sent SMS messages containing the value of their validated claims with outstanding customers to be covered shortly.

Interested claimants must now follow THREE simple steps (reduced from six steps) outlined in Appendix 1 to access the partial bailout in cash.

The over ten thousand clients who have already completed step one will be contacted shortly to complete the last two steps to access their payment of up to Fifty Thousand Ghana Cedis (GHS50,000) conveniently.

RelatedPosts

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

Clients with validated claims in excess of Fifty Thousand Ghana Cedis (GHS50,000) can also opt to wait for the conclusion of the liquidation processes in court to access the full bailout package.

For the avoidance of doubt, the partial bailout of GHS50,000 would be paid as cash into the bank accounts that would be opened at GCB Bank for each client.

Clients would therefore be able to withdraw cash as soon as their accounts are activated as outlined in Appendix 1. The SEC, therefore, appeals to all affected clients who opt for the partial bailout package to patiently follow through with all the processes and rely only on information provided by the SEC on the process.

Clients who are yet to receive their Claim IDs are advised not to panic as the SMS is being dispatched in batches. The Government is committed to following through with its bailout package for all validated claims.

Requests for further information can be made by calling the dedicated bailout call center number on 0553564472/0242-439453 or by sending an email to gh_fundmanagers@pwc.com.

Alternatively, customers may visit  www.bailout.rgd.gov.gh for the latest updates on the bailout situation. 

Source: Securities and Exchange Commission
Via: norvanreports
No Result
View All Result

Highlights

President Mahama Secures Infrastructure, Technology, and Agriculture Deals on Japan Visit

Mida Pledges Alignment With US Strategic Shift On Millennium Challenge Corporation

Standard Chartered Empowers Future Leaders Through Financial Literacy and Mentorship

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still

ChatGPT Captures 48.36% of All AI Tool Traffic

Aid to Regional Partnerships: Japan’s New Strategic Approach to Economic Engagement with Africa

Trending

Business

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

August 25, 2025

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears The Ghana Revenue...

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

August 25, 2025

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

August 25, 2025

President Mahama Secures Infrastructure, Technology, and Agriculture Deals on Japan Visit

August 25, 2025

Mida Pledges Alignment With US Strategic Shift On Millennium Challenge Corporation

August 25, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.