Flagbearer of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia, revealed during his Northern Region tour that the Ministry of Finance is devising a new bailout plan for investors affected by the collapse of the Gold Coast Fund.

While interacting with a group of aggrieved investors seeking recourse for their losses, Dr. Bawumia assured them of the government's commitment to addressing their concerns.

The investors, who have been grappling with challenges in recovering their investments following the closure of the banks, have been advocating for compensation.

Dr. Bawumia's announcement brings hope to these investors, offering a potential solution to their predicament.

Acknowledging the hardships faced by the investors, Dr. Bawumia highlighted that the Ministry of Finance had previously provided a bailout of 50,000 Ghana cedis per investor and is now working on additional relief measures.

“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.