ACGCFM Pleads with Parliamentary Committee to Order Finance Minister to Disburse GHc 4Billion Allocated In 2024 Budget

The aggrieved customers of Gold Coast Fund Management (ACGCFM) are pleading with the Special Parliamentary Committee tasked with investigating the delay in disbursing the government’s bailout package to Gold Coast customers to give a liquidation order to the newly appointed Finance Minister, Mohammed Amin Adam to disburse the GHc4 billion allocation in the 2024 budget to the customers.

According to the customers, during the committee investigations at the hearing, the Deputy Finance Minister now the new Minister of State at the Ministry of Finance, Hon. Abena Osei Asare made them understand that they will only act in the direction of parliament so they will only disburse the GHc4 billion to the customers only if parliament gives them the green light to pay.

The Convener for the aggrieved customers, Mr. Charles Nyame in an interview with Peace FM News emphasized that many families have been grappling with the harsh reality of frozen investments because the delay in receiving their investment has jeopardized their future, causing immense emotional and financial insecurity.

He further urged the committee to as matter of urgency to consider the following in their deliberations; recommendation of a fair interest rate to compensate for the lost value of investment and the 13 month interest suspension during the validation, establishment of a tripartite resolution process involving Price Waterhouse Coopers (PWC), the Fund Manager, and the individual investors to address dispute claims, inclusion of Gold Money Market Fund investors in the government bailout package and also exploration of alternative validation methods for customers who lack documentation due to unforeseen circumstances.

Mr. Nyame also called on the newly appointed Minister of Finance, Hon. Mohammed Amin Adam to prioritize the disbursement of the allocated GHc4 billion since this is not the first time such disbursements have been allocated in the budget.

He said the funds represent the broken dreams and shattered hopes of countless families.







Abdulai Dasmani/Peace FM Newsroom