Dr. Mahamudu Bawumia, the NPP’s flagbearer, has declared that the Ministry of Finance is developing a new bailout plan for Gold Coast Fund investors. Dr. Bawumia made the statement during a trip to the Northern Region, where he was accosted by a group of investors requesting compensation for their losses. Investors in the collapsed Gold Coast Fund are demanding compensation for their losses following the bank’s closure. Despite their efforts, they have encountered substantial difficulties in retrieving their investments. Dr. Bawumia’s announcement provides a ray of light for these investors, who have been waiting for a solution to their problem.
He acknowledged the investors’ difficulties, noting that the Ministry of Finance had previously granted a bailout of 50,000 Ghana cedis each investor and is now planning another package to help them. “We would have lost a lot of employment, and some of the securities, such as Gold Coast securities, were investments made by individuals rather than banks. These are not bank deposits; instead, they are individual investments. People generally make their own assessments of the dangers of investing in specific institutions.”
“When they make a lot of money, we don’t hear any complaints; when they lose money, we may hear some. And I understand how difficult it is for many people who have invested in these organisations through provident funds and other means. “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 said.
