GCB Capital Ltd (Lead Fund Manager of the AM Fund) will send notifications via text messages to all investors who have outstanding examined claims. The text message will indicate when and how much they are eligible to withdraw.

For further information, please reach out to the AM Fund on amfund@gcb.com.gh or 024 243 9476 / 0302-949347

In this round of payment and based on the GHS1.5 billion being made available by Government, investors (including investors of Blackshield Capital Management Limited) will receive the higher of GHS50,000 or 15% of their outstanding examined claims.

The GHS1.5billion will be released by the Government of Ghana in three tranches of GHS700m (tranche 1), GHS400m (tranche 2), and another GHS400m (tranche 3). Therefore, payment of the amount due to investors (i.e., the higher of GHS50,000 or 15% of investors outstanding examined claims) under this round of payment will be proportionate to the release of funds by Government.

The timing of the next payout under this Government Bailout program is dependent on allocations made by Government in the National Budget

The Government Bailout package is being offered to affected investors via A Special Purpose Vehicle (‘’SPV’’) which is named as Amalgamated Mutual Fund (‘’AM Fund’’) managed by GCB Capital Limited (‘‘GCL’’).

For investors who do not have accounts with the AM Fund, new accounts will be opened after going through the onboarding process at GCL into which the bailout money would be paid. The account details will be shared with the investors via SMS.

All redemptions from the AM Fund will be processed through accounts opened for investors at GCB Bank. If you have already received funding through an account opened for you at GCB Bank, you will not need to open a new account.

For investors who have closed their bailout account at GCB Bank, a new account will be opened for them.

All investors who have gone through the claim examination process and are yet to receive their Claim IDs will be notified via text messages in due course. Investors who do not receive their Claim IDs in September 2024 can contact the agent of SEC at gh_fundmanagers@pwc.com or 0242439453.

Investors are notified when bank accounts are created or credited with funds. However, if you have any challenges, kindly contact GCB Capital/AM Fund via email at amfund@gcb.com.gh or call the helpline on 024-243-9476/ 0302-949347 for assistance with your AM Fund and GCB Bank account numbers.

Investors will have the opportunity to update their records if there has been any change since they last completed onboarding for the bailout and where necessary, supporting documents will be required. For example, investors with name changes will be required to provide the affidavit for the name change.

For investors who are not individuals (i.e., companies, financial institutions, associations, schools, etc.) the request for change of details must be on an official letterhead and this must be submitted together with a copy of the completed Proof of Debt form and a copy of valid Ghana Card (ECOWAS ID Card) of the nominated representative as part of the update process on the GCL website.

Investors will have the opportunity to update their records if there has been any change since they last completed onboarding for the bailout and where necessary, supporting documents will be required. For example, investors with name changes will be required to provide the affidavit for the name change.

For investors who are not individuals (i.e., companies, financial institutions, associations, schools, etc.) the request for change of details must be on an official letterhead and this must be submitted together with a copy of the completed Proof of Debt form and a copy of valid Ghana Card (ECOWAS ID Card) of the nominated representative as part of the update process on the GCL website.

Investors will have the opportunity to update their records if there has been any change since they last completed onboarding for the bailout and where necessary, supporting documents will be required. For example, investors with name changes will be required to provide the affidavit for the name change.

For investors who are not individuals (i.e., companies, financial institutions, associations, schools, etc.) the request for change of details must be on an official letterhead and this must be submitted together with a copy of the completed Proof of Debt form and a copy of valid Ghana Card (ECOWAS ID Card) of the nominated representative as part of the update process on the GCL website.

Investors will have the opportunity to update their records if there has been any change since they last completed onboarding for the bailout and where necessary, supporting documents will be required. For example, investors with name changes will be required to provide the affidavit for the name change.

For investors who are not individuals (i.e., companies, financial institutions, associations, schools, etc.) the request for change of details must be on an official letterhead and this must be submitted together with a copy of the completed Proof of Debt form and a copy of valid Ghana Card (ECOWAS ID Card) of the nominated representative as part of the update process on the GCL website.

If the claimant is deceased and relatives wish to claim on his/her behalf – Kindly email the request to make claim on behalf of a deceased relative with the listed documents to gh_fundmanagers@pwc.com for further assistance:

1. Death Certificate
2. ID card of the deceased and Ghana card (ECOWAS ID Card) of all beneficiaries listed on the Letters of Administration/Probate/Will
3. Investment Certificate and claim form of the deceased
4. Claim ID

Please ensure that the ID cards of the beneficiaries are exactly the same names on the Letters of Administration/Probate/Will.

Kindly note that mutual funds are not part of the ongoing Government bailout.

Please note that the revocation of the licenses of the Fund Managers does not terminate the existence of the Mutual Funds and Unit Trusts that they used to manage.

Please check www.sec.gov.gh/licensees  for further information on Mutual Funds and Unit Trusts.

Please contact the SEC appointed Agent via phone at 0242439453 or via gh_fundmanagers@pwc.com if you require any clarifications.

You may also reach the Lead Fund Manager- GCB Capital via email at amfund@gcb.com.gh or reach the bailout call centre on 0242439476.

This bailout covers customers with examined claims who have accepted the Government’s bailout package.

The total amount of GHS1.5 billion will be released in three tranches commencing with the first tranche of GHS 700 million in August, and GHS400 million each in October and December.

This bailout will be rolled out through the Special Purpose Vehicle, Amalgamated Mutual Fund (AM Fund). The managers of AM Fund will hold an investors meeting in the coming days to provide guidance for those who would want to access the released funds as well as the prospects for leaving the claims in the AM Fund to be managed.

Under this current release, investors will receive the higher of GHS 50,000 or 15% of their outstanding examined claims on the revoked firms. This top-up covers the number of investors’ claims yet to be fully settled, estimated at 35,759 and results in close to 91% of these investors being fully settled.

For further information and updates, please contact the SEC appointed Agent, PricewaterhouseCoopers (Ghana) LTD (“PwC”) via email gh_fundmanagers@pwc.com or alternatively call the Agent on +233 (0) 242 439 453 or visit the bailout portal: www.bailout.orc.gov.gh for more details.