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

During his tour of the Northern Region, Dr. Bawumia addressed a group of investors who have been seeking compensation for their losses since the fund's closure.

He acknowledged the significant challenges they have faced in recovering their investments and announced the upcoming financial relief.

Previously, the Ministry of Finance had provided a bailout of 50,000 Ghana cedis per investor.

Dr. Bawumia’s announcement brings renewed hope to these investors, offering further assistance to alleviate their ongoing hardships.

“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.