Govt releases GH₵700m to customers of collapsed fund management companies

Finance Minister Dr. Mohammed Amin Adam has announced the release of GH₵700 million to customers with funds locked up in collapsed fund management companies.

This is the first installment of a GH₵1.5 billion relief package, as promised in the 2024 mid-year budget. The funds will be disbursed in three tranches, with the remaining GH₵800 million to follow.

Dr. Amin Adam explained that this initiative aims to alleviate the financial stress on affected individuals, including customers of Black Shield Funds Management.

The Securities and Exchange Commission will handle the distribution of the funds.