The Ghanaian government has announced the release of GH₵700 million to provide relief to individuals whose funds have been trapped in collapsed fund management companies.
This is the first tranche of a GH₵1.5 billion allocation approved in the 2024 mid-year budget review.
Finance Minister Dr. Mohammed Amin Adam confirmed the release during a monthly economic update, stating that the funds will be distributed in three tranches.
The remaining GH₵800 million will be released in subsequent tranches.
The government’s intervention aims to mitigate the financial hardship faced by affected individuals.
The funds will be disbursed through the Securities and Exchange Commission to the impacted customers, including those who invested with Black Shield Funds Management.
Dr. Adam emphasized the government’s commitment to providing relief to those affected by the collapse of these fund management companies.
