Key Takeaways
- • The Registrar-General and official Liquidator will conduct virtual creditors meetings September 7–11, 2020, via Zoom for 20 defunct fund management companies facing formal winding up following a High Court order.
- • The initiative covers customers of 20 out of 53 collapsed Fund Management Companies (FMCs) whose licenses were revoked by Ghana's Securities and Exchange Commission in November 2019.
- • Liquidator Jemima Oware confirmed each company has a scheduled meeting slot from 9:00 AM to 11:00 AM, with invitations distributed via SMS; creditors without links can contact 0244369143 to update contact details.
- • The 20 firms entering liquidation include Alpha Cap Securities Limited, Alltime Capital Limited, Axe Capital Limited, Brooks Asset Management Limited, CDH Asset Management Limited, Galaxy Capital Limited, and 14 others.
- • This marks the first virtual creditors meeting format for the collapsed FMC portfolio, representing a procedural shift in Ghana's regulatory response to the 2019 fund manager collapse.
Summary
Ghana's Registrar-General and official Liquidator have scheduled virtual creditors meetings for September 7–11, 2020, to engage stakeholders in the formal liquidation process of 20 defunct fund management companies. The meetings will be conducted via Zoom, with each company allocated a two-hour window between 9:00 AM and 11:00 AM daily. This represents the first virtual creditors meeting format deployed in response to the collapse of the FMC sector.
The 20 companies entering formal liquidation represent a subset of the 53 fund management firms whose operating licenses were revoked by Ghana's Securities and Exchange Commission in November 2019. According to Liquidator Jemima Oware, speaking on the Citi Breakfast Show on September 4, the virtual format was adopted to facilitate broad creditor participation. Invitations have been distributed via SMS to registered creditors; those who have not received links are instructed to contact 0244369143 to verify and update their contact information.
The liquidation portfolio includes Alpha Cap Securities Limited, Alltime Capital Limited, Axe Capital Limited, Brooks Asset Management Limited, CDH Asset Management Limited (Intermarket), Fromfrom Capital Limited, Galaxy Capital Limited, Lifeline Asset Management Limited (Kamaag), Mak Asset Management Limited, Man Capital Limited, Mec-Ellis Investment (Ghana) Limited, Mutual Integrity Limited, Nesst Capital Limited, Nickel Keynesbury Limited, Nordea Capital Limited, Sirius Capital Limited, Standard Securities Limited, Supreme Trust Capital Limited, Tikowrie Capital Limited, and Weston Capital Management Limited.
The creditors meetings follow a High Court order authorizing the formal winding-up process and represent a key procedural step in the resolution of customer claims and asset recovery. The phased approach—addressing 20 companies initially while deferring meetings with creditors of the remaining 33 collapsed firms—suggests a structured liquidation timeline managed by the Registrar-General's office.
The 20 companies entering formal liquidation represent a subset of the 53 fund management firms whose operating licenses were revoked by Ghana's Securities and Exchange Commission in November 2019. According to Liquidator Jemima Oware, speaking on the Citi Breakfast Show on September 4, the virtual format was adopted to facilitate broad creditor participation. Invitations have been distributed via SMS to registered creditors; those who have not received links are instructed to contact 0244369143 to verify and update their contact information.
The liquidation portfolio includes Alpha Cap Securities Limited, Alltime Capital Limited, Axe Capital Limited, Brooks Asset Management Limited, CDH Asset Management Limited (Intermarket), Fromfrom Capital Limited, Galaxy Capital Limited, Lifeline Asset Management Limited (Kamaag), Mak Asset Management Limited, Man Capital Limited, Mec-Ellis Investment (Ghana) Limited, Mutual Integrity Limited, Nesst Capital Limited, Nickel Keynesbury Limited, Nordea Capital Limited, Sirius Capital Limited, Standard Securities Limited, Supreme Trust Capital Limited, Tikowrie Capital Limited, and Weston Capital Management Limited.
The creditors meetings follow a High Court order authorizing the formal winding-up process and represent a key procedural step in the resolution of customer claims and asset recovery. The phased approach—addressing 20 companies initially while deferring meetings with creditors of the remaining 33 collapsed firms—suggests a structured liquidation timeline managed by the Registrar-General's office.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.