The Securities and Exchange Commission (SEC) has disclosed that the government needs an additional GH₵4.3 billion to fully compensate investors affected by the collapse of several fund management firms. This comes after an initial GH₵5 billion was disbursed to settle claims, according to SEC Director General Dr. James Klutse Avedzi.
Speaking in an interview, Dr. Avedzi attributed delays in payments to legal disputes initiated by some fund management firms, notably Blackshield Capital, challenging their liquidation process.
Out of 108,000 affected investors, 80,000 have already received their full claims. The government, he assured, remains committed to addressing the outstanding settlements to restore market confidence.
“Government is committed to making the payments because of its impact on market confidence. We will not hesitate to clamp down on any Fund Management company that fails to comply with the Market rules,” he stressed.
It will be recalled that in 2019, SEC revoked the licenses of 53 fund management firms, citing the need to protect investor interests and uphold the integrity of the securities market. These firms, including All Time Capital, Apex Capital Partners, and Intermarket Asset Management, collectively controlled GH₵8 billion in investor assets across 56,000 clients.
To cushion affected investors, the government allocated GH₵1.5 billion in 2024, offering a partial bailout covering 89% of individual investors and 82% of pensioners. So far, GH₵700 million has been disbursed through GCB Capital, with authorities actively seeking additional funds.
Although the 2025 Budget did not earmark specific allocations for further settlements, Dr. Avedzi expressed optimism that the Mid-Year Budget Review could secure additional resources. He reiterated the SEC’s firm regulatory stance, vowing to enforce market rules and prevent future collapses.
