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Customers of the defunct Gold Coast Fund Management are urging the government to make a full budgetary allocation in the 2026 Mid-Year Budget Review to settle their outstanding investments, insisting it is time to fulfil President John Dramani Mahama’s campaign pledge to compensate affected investors.
In a statement issued on Thursday, July 16, the Aggrieved Customers of Gold Coast Fund Management described the upcoming budget review as a crucial opportunity for the government to restore confidence in Ghana’s financial sector by resolving one of the country’s longest-running investment disputes.
The group said thousands of investors—including pensioners, widows, workers and small business owners—continue to suffer severe financial hardship years after the collapse of the fund management company left their investments locked up.
“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,” portions of the statement said.
The affected customers are calling on the government to use the Mid-Year Budget Review to make a full budgetary provision for the immediate settlement of all outstanding claims, rather than continuing with a phased repayment approach.
According to the group, President Mahama assured victims during the 2024 election campaign that his administration would ensure full payment within its 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 noted.
The group argued that compensating customers goes beyond reimbursing investors and is essential to rebuilding public trust in government commitments and Ghana’s financial system.
“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 added.
The customers stressed that they are not asking for financial assistance but are demanding the return of funds they legitimately 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,” the statement said.
The group concluded by appealing directly to President Mahama to direct the Minister for Finance to include a comprehensive allocation for the settlement of all outstanding Gold Coast Fund Management claims when he presents the 2026 Mid-Year Budget Review to Parliament next week.
The Finance Minister, Dr. Cassiel Ato Forson, is expected to present the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, where he is anticipated to provide updates on the country’s fiscal performance and announce measures aimed at sustaining economic recovery. The affected customers say they will be closely watching the budget presentation, describing it as a key test of the government’s commitment to resolving Ghana’s financial sector clean-up legacy.