General News of Monday, 14 September 2020Source: www.ghanaweb.comSEC dismisses pleas by Menzgold customers to be included in bailout packageA file photo of agitated customers of MenzgoldThe Securities and Exchange Commission (SEC) has said it cannot grant a request by customers of Menzgold Ghana Limited to be included in a bailout for depositors of collapsed fund management firms. “We write on behalf of members of the Coalition of Aggrieved Customers to request that customers of Menzgold Company Limited be made part of the beneficiaries of the bailout fund for depositors of collapsed institutions by Securities and Exchange Commission,” the aggrieved Menzgold customers said in a statement. The government’s bailout is mainly targeted at the clients of some 53 fund management companies that also collapsed. However, in a letter declining the request of the Menzgold customers, SEC explained that the target of the bailout is clearly defined and does not cover Menzgold customers. The Commission recently disclosed that the government is set to announce a bailout package for clients of the now 50 defunct Fund Management Companies.

Source: GhanaWeb September 14, 2020 16:18 UTC