Aggrieved Gold Coast Fund Management customers’ demo to be held today

Hundreds of aggrieved customers of struggling fund managers, Gold Coast Fund Management, are set for a mammoth demonstration in Accra today, Tuesday to pile pressure on the company’s management to payback their locked up investments.

This is just one of the many protests that have hit the company in recent times as many financial institutions go through turbulent times.

Gold Coast Security, a member of Groupe Nduom, has struggled just like defunct GN Bank, which was downgraded to a Savings and Loans before its licensed was finally withdrawn.

Hundreds of aggrieved customers of struggling fund managers, Gold Coast Fund Management, are set for a mammoth demonstration in Accra today, Tuesday to pile pressure on the company’s management to payback their locked up investments.

This is just one of the many protests that have hit the company in recent times as many financial institutions go through turbulent times.

Gold Coast Security, a member of Groupe Nduom, has struggled just like defunct GN Bank, which was downgraded to a Savings and Loans before its licensed was finally withdrawn.

“Like Goldman Sachs, GCFM, now BlackShield, has suffered unprecedented demand and pressures for the redemption of investments. The regulator, the Securities & Exchange Commission (SEC) in January 2019 directed GCFM not to accept new funds or investments due to the liquidity challenges facing the company."

"A public notice followed. Customers were encouraged publicly to file official complaints or go to court to demand their investments. Through all of this, over GHC200million of investments have been returned to investors. GHS300 million more will be returned by the end of 2019,” he said.



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