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Payment of GH¢50k to customers of failed fund mag't companies was on compassionate grounds
Summary short_text
The SEC in a statement said the government has authorized a partial bailout which involves a partial payment of up to Fifty Thousand Ghana Cedis to all customers of the remaining affected Fund Management Companies while the court process on the liquidation petition and other matters continue. "In addition to this, the government on compassionate grounds has decided to pay up to GH¢50,000 to all customers of affected Fund Management Companies while the liquidation processes continue. Based on the validated claims, this partial bailout would result in 89% of the affected individuals being fully settled."
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