Gold Coast Fund Management promises safety of investments

BY: Graphic Online
Mr. Kwame Ofori Asomaning, MD of Gold Coast
Mr. Kwame Ofori Asomaning, MD of Gold Coast

Gold Coast Fund Management (GCFM) has said it is working tirelessly to ensure the security of investments and to give better service to customers through diverse means.

In the midst of challenges, the GCFM said it had disbursed about GH₵60 million to its customers.

It added that the company has prioritised the clearance of arrears from 2018 due to those whose requests for redemptions and interest have been approved and payments due for emergencies and to pensioners.

A statement from the management of GCFM said: “We must express our disappointment at the actions of a very small number of our customers who appear to be determined to tarnish the hard-won reputation of GCFM and its owners."

“We understand the anxiety of customers who have never experienced any delays in redeeming their investment funds from our company”.

The statement said since June 2018, when the Securities and Exchange Commission (SEC), the regulator asked investment companies to wind down guaranteed products, misconceptions and miscommunication resulted in disruptions in the company’s fund mobilisations and disbursements.

It said however that although SEC gave the direction, it could not be blamed for any disruptions in the sector.

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The statement said in the past 25 years, the GCFM had worked diligently to manage customer funds successfully and that customers over these years have never experienced losses adding that, “this is a record we are proud of and are determined to keep”.

In response to the uncertainties that has filled the minds of its customers, the company said it had outlined strategies to boost communication and to improve customer service delivery.

These strategies it said included a new call center and email correspondence and case management to ensure that customers received information on their investments on time and to enable for the company to receive complaints from their customers.

It urged customers to email the company with general questions.