We are clearing arrears from 2018 – GCFM

Business News of Wednesday, 13 March 2019


Gold Coast Fund Management 320x288Gold Coast Fund Management is paying its customers from 2018

The Management of Gold Coast Fund Management (GCFM) a subsidiary of the Groupe Nduom has announced their commitment in ensuring that all arrears of their customers since 2018 are cleared from this Month going forward.

In a statement signed by the General Manager, Investor Relations and External Affairs, Benjamin Afreh and copied to GhanaWeb states that the company has disbursed about GHC60 million and are on course to continue to meet the needs of more customers in the weeks ahead.

“Our priorities this month going forward are clear and should be noted by all: to clear arrears from 2018, money due to those whose requests for redemptions and interest were processed and approved; and payments due for emergencies and to pensioners.

Payments will be made from the domicile branches throughout the country and not from our Head Office,” the statement reads.

The company emphasized that they have made viable investments that are still running in the form of placements with other financial institutions, commercial paper held by a variety of private sector entities and contractors with valid government agency infrastructure projects.

It added that the value of these assets exceeds the related liabilities and as a company, they must ensure that they must keep the investments running to be able to derive the values needed to meet the needs of our customers.

“We must now forcefully make the point that some companies, individuals and institutions think that we will continue to suffer in silence and lose credibility with our customers. They are wrong. We have through a public notice given opportunity for those finding it difficult to meet their obligations to us to come and sit down and arrange periodic payments. We must meet the needs of our customers. Therefore, beginning this week, we are moving to a different level to collect money from the investments we have made. As our investments produce cash, we will continue to meet requests from customers,” the statement added.

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