Vice President Dr Mahamudu Bawumia has announced a new bailout package to cushion investors of the defunct Gold Coast Fund.
During his tour of the Northern Region, the NPP flagbearer revealed that the Ministry of Finance is preparing a new relief package for the investors some of whom are bearing the brunt of the general hardships.
This announcement comes as a response to the challenges faced by investors seeking redress for their losses following the closure of the banks.
Investors of the defunct Gold Coast Fund have been struggling to recover their investments, prompting Dr Bawumia’s acknowledgement of their difficulties.
Dr Bawumia who was confronted by a group of investors who have been seeking redress for their losses, noted that the Ministry of Finance had previously provided a bailout of 50,000 Ghana cedis per investor and is now preparing another package to alleviate their hardships.
“We would have lost so many jobs and for some of the securities like Gold Coast securities, these were investments that were made by people and not the banking sector. These are not banking deposits, these are investments made by people. And people basically make their own evaluations of the risks in investing in certain institutions.”
“Sometimes when they make a lot of money, we don’t hear any complaints but when they lose monies, then we may hear some complaints. And I know that it’s not easy for a lot of people who have put provident funds and so on into these institutions.”
“The Ministry of Finance came out with a bailout, and I think each repository that they gave was about 50 thousand Ghana cedis and I think that the ministry is preparing another bailout for them because we believe that they are going through a lot of hard times,“ he stated.
