Final process to pay customers of defunct Fund Management Companies begins

The Registrar General has begun final processes that will enable payment of investors of liquidated Fund Management Companies.

The final processes started on Wednesday, September 23, 2020, and funds are expected to hit the accounts of investors from next week Wednesday, September 30, 2020.

Reports indicate that account details have been created and the process of payment structures should be sent out to all investors that have had their claims validated from today.

The disbursement of funds will cover all the fund management firms that the Registrar General got court approval to liquidate.

Registrar General, Jemima Oware, said the investors don’t need to accept the current terms of payment.

“We will give them [investors] whatever government has for them if they are interested they can pick it up if they are not they will have to wait for the assets of the individual companies to be liquidated and pay them dividends,” she explained.

She said those who will not accept the current arrangements by the government, they will have to wait until next year for the individual company assets to be liquidated for them to be paid.

She also announced new changes to the processes and procedures of registering companies in Ghana to promote the Government’s efforts at improving the ease of doing business in Ghana.

She stated that the E- Registrar software application has been upgraded under the new Companies Act, 2019, (Act 992).

Starting from September 28, 2020, members of the business community who wish to register new companies would have to visit the Department’s website and download the new prescribed Forms and complete them appropriately for the six types of Company registration.


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