The flagbearer of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia, has announced that the Ministry of Finance is preparing a new bailout package for investors of the defunct Gold Coast Fund. 

Dr. Bawumia made this statement during his tour of the Northern Region, where he encountered a group of investors who have been seeking redress for their losses.

The defunct Gold Coast Fund investors have been actively seeking compensation for their losses following the closure of the banks. 

Despite their continuous efforts, they have faced significant challenges in recovering their investments. 

Dr. Bawumia’s announcement offers hope for these investors, who have been striving for a resolution to their situation.

During his address, Dr. Bawumia acknowledged the difficulties faced by the investors. He emphasised the government's commitment to addressing their grievances, highlighting that the Ministry of Finance had previously provided a bailout of 50,000 Ghana cedis per investor.

Dr. Bawumia assured the investors that the Ministry of Finance is now preparing another package aimed at alleviating their hardships. 

This forthcoming bailout is expected to provide much-needed relief to those who have suffered financial losses due to the collapse of the Gold Coast Fund.

“We would have lost so many jobs and for some of the securities like Gold Coast securities, these were investments that were made by people and not the banking sector. These are not banking deposits, these are investments made by people. And people basically make their own evaluations of the risks in investing in certain institutions.

“Sometimes when they make a lot of money, we don’t hear any complaints but when they lose monies, then we may hear some complaints. And I know that it’s not easy for a lot of people who have put provident funds and so on into these institutions.

“The Ministry of Finance came out with a bailout, and I think each repository that they gave was about 50 thousand Ghana cedis and I think that the ministry is preparing another bailout for them because we believe that they are going through a lot of hard times,“ he stated.