Clients of 53 defunct fund managers cry to gov’t over cash; say lockdown is "killing" them
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Clients of 53 defunct fund managers cry to gov’t over cash; say lockdown is "killing" them

- Customers of defunct fund management companies have called on the government to help retrieve their deposits

- They explained that the partial lockdown instituted to control the spread of the coronavirus has worsened their living conditions

- President Akufo-Addo, during his SONA address, revealed hat GHC1.5 billion has been set aside to pay monies to clients of savings and loans companies

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Members of the Coalition of Aggrieved Fund Management Customers are calling on the government to come to their aid as a matter of urgency.

According to them, the government should immediately release funds to pay them as the outbreak of the coronavirus has worsened their plight.

The customers of the 53 fund managers, some of who reside in Accra, Tema and Kumasi, explained that their living conditions have been worsened by the outbreak.

READ ALSO: Ghanaian farmers, others, warn of possible food shortages after COVID-19

Per a report by citibusinessnews.com, they added that some of their members can barely make ends meet and others are on pension.

They argued that some of their colleagues who conducted business with savings and loan companies have been paid part or all of the deposits and they are therefore calling on the government to assist them.

The customers called on the government to extend the duration of the reliefs made available to Ghanaians following the partial lockdown instituted to help control the spread of the coronavirus.

YEN.com.gh understands that the minister of finance, during the presentation of the 2020 financial budget, revealed that the government has set aside GHC1.5 billion to provide relief to the affected customers of the collapsed fund management companies.

Meanwhile, President Akufo-Addo, as part of his State of the Nation Address in Parliament, noted that there is a plan to pay monies owed customers of savings and loan companies.

He revealed that they would be paid from Monday, February 24, 2020.

According to him, about GHc5 billion has been handed over to the Receiver to give out to clients of the collapsed companies.

He indicated that depositors of affected companies would receive all of their deposits once a validation exercise is complete.

READ ALSO: Collapsed microfinance firms have received almost GHC800 million - Ken Ofori-Atta

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Source: Yen Ghana

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