The Ministry of Finance is arranging to reimburse customers of businesses that the Securities and Exchange Commission (SEC) dissolved as part of the financial sector cleanup effort, according to Vice President Dr. Mahamudu Bawumia.
Dr. Bawumia claims that the action aims to promote accountability and transparency in the financial market while providing assistance to investors who have been negatively impacted.
As part of his Ashanti Region tour, Dr. Bawumia spoke to professional groups in Kumasi and underlined the government’s unshakable commitment to guaranteeing investor protection.
He stated that numerous agreements have been reached with impacted clients in order to make amends.
Dr. Bawumia stated that even though the government is not in charge of paying these payments, it will start the process out of compassion for the unlucky investors who were impacted by the cleanup.
These were his words:
“It looks like the Minister of Finance is looking forward to making some payment to customers of the liquidated companies,”
“When it comes to Gold Coast Securities and others, it is something on our agenda and I believe that the Ministry of Finance will look at it. We have engaged affected customers and we look forward to the payments”.
“Technically, government is not responsible but out of empathy and sympathy for the people who invested in some of these institutions, the minister will make some of these payments”.
