Gold Coast Fund customers renew calls for repayment allocation in Mid-Year Budget

Customers of the defunct Gold Coast Fund Management have renewed calls on the government to make a full budgetary allocation to settle their outstanding investments ahead of the 2026 Mid-Year Budget Review.

The aggrieved customers say the upcoming budget offers the government an opportunity to resolve one of Ghana's longest-running investment crises and fulfil what they describe as President John Dramani Mahama's campaign promise to compensate them within his first year in office.

In a statement issued on Thursday, July 16, 2026, the Aggrieved Customers of Gold Coast Fund Management said thousands of investors continue to endure severe financial hardship years after the collapse of the fund manager left their investments inaccessible.

According to the group, pensioners, widows, workers and small business owners have borne the brunt of the crisis.

"Many pensioners, workers, widows, and small business owners have been pushed into poverty, denied medical care, forced to withdraw their children from school, and stripped of their dignity. Sadly, many victims have died without recovering a pesewa of the investments they entrusted to a licensed financial institution," the statement said.

The group is urging the government to abandon any phased repayment plan and instead make a full budgetary provision to settle all outstanding claims in the Mid-Year Budget Review.

It argued that President Mahama had pledged during the 2024 election campaign that affected customers would receive full payment within his first year in office.

"During the 2024 election campaign, President John Dramani Mahama gave a clear and reassuring commitment to the victims. He assured affected customers that full payment would be made within his first year in office. Today, that timeline has expired. The victims are still waiting," the statement added.

The customers said settling the outstanding claims is not only about returning investors' funds but also about restoring confidence in the country's financial sector and reinforcing trust in government commitments.

"The 2026 Mid-Year Budget Review presents the government with a unique opportunity to demonstrate compassion, accountability and respect for the rule of law by making a full budgetary provision for the immediate payment of all outstanding claims," the statement noted.

The group maintained that affected investors are not asking for financial assistance but simply demanding the return of money they legally invested through a licensed financial institution.

"The people affected are not asking for charity. We are demanding the return of their own hard-earned money. Justice delayed has become justice denied," it stated.

The statement concluded with a direct appeal to President Mahama to direct the Finance Minister to include a full allocation for the settlement of all outstanding Gold Coast Fund Management claims in next week's Mid-Year Budget Review, arguing that the decision will be closely watched by investors and the broader financial market.