Locked-up funds: First tranche of GHS 700m to be disbursed by end of month

Customers set to benefit from the government’s bailout package for investors of locked-up funds will have their accounts credited soon.

This follows the conclusion of engagements between GCB Capital as the lead fund manager and the investors over the road map for the first tranche of payments.

The finalisation of the terms means the funds are expected to be received by the end of September.

The investor engagement held last week was to bring investors up to speed after the government announced the release of GHS 700 million as the first tranche of the GHS 1.5 billion bailout package. 

All investors with outstanding balances id will be paid on a pro-rata basis. This is to ensure that all investors are given some relief.

Already, the Securities and Exchange Commission has announced that investors will receive a higher value of GHS 50,000  or 15%  of their outstanding value in this phase.

So for example all investors with outstanding balances of GHS 20,000 and below, will receive all their funds by the end of this month. 

If you have, for instance, GHS 100,000, you will receive GHS 50,000. Investors with the remaining balance of GHS 500,000 will be paid GHS 75,000.

Those with GHS 1 million and GHS 5 million will receive GHS 150,000 and GHS 750, 000 respectively.