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MoF preparing a new bailout package for investors of Gold Coast Fund – Veep

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Vice President Dr. Mahamadu Bawumia says the Ministry of Finance is preparing a new bailout package for investors in the defunct Gold Coast Fund.

He disclosed this while on tour of the Northern Region as part of his campaign activities.
Some investors who have their funds locked up at the fund confronted him with their issues, demanding answers over when they would receive their money.

In his response, the Vice President admitted that the affected victims were going through several difficulties but assured them that efforts were underway to address their concerns.

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According to him, 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.

By: Rainbowradioonline.com/Ghana

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