The Amalgamated Mutual Fund PLC (The AM Fund) has commenced cash payments under the partial bailout scheme to clients of the Fund Management Companies (FMCs) for which the Official Liquidator has yet to obtain Liquidation Orders from the courts.

This follows the announcement by the Securities and Exchange Commission (SEC) on 18th November, 2020, that Government has authorized a partial bailout involving payments of up to GHS50,000 each, to customers of FMCs whose licenses have been revoked but whose liquidation processes in the courts have not been concluded.

Affected clients are required to follow a simple 3-step process to access cash under the partial bailout scheme as follows:
1. Accept the Offer
Clients are to accept the bailout package at, as stated in the text message sent to them by SEC.
2. Complete Onboarding/KYC
To verify identities and ensure funds are paid to the right persons via The AM Fund, clients are required to submit identification documents. Therefore, within 5 working days of accepting the offer, clients receive text messages from The AM Fund, requiring them to upload KYC documents (passport picture, ID document, address document, etc.) at Corporate entities are required to upload the usual corporate KYC documents.
3. Collect Cash
Clients are sent text messages within 5 working days of completing onboarding that their monies have been paid into GCB Bank accounts opened for them. Clients can then go to any GCB Bank branch with copies of their onboarding documents for the accounts to be activated and the cash paid to them.

Please note: Cash payment to clients of the FMCs in full liquidation began on 8th October, 2020, and is continuing per prior arrangements.

GCB Capital is committed to ensuring smooth processing of payments for both the full bailout and partial bailout streams. Clients can make enquiries or obtain assistance by contacting us on 055 256 4472 or [email protected]

Disclaimer: News Ghana is not responsible for the reportage or opinions of contributors published on the website.

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  1. I signed the acceptance form on Monday 23rd November at 08:46pm and submitted and then proceeded to print out a copy for my records and to date, I have not heard from AM Fund. Worse is that, none of the telephone lines they put out responds to my call.

  2. I was having a fixed deposit and gold money market product with black shield fund management company but I only received the amount for the fixed deposit . Is not only me too. Pls can you explain reasons because we supported with all the necessary documents thanks

  3. Please when am filling the onboarding form, as I typed in the Am fund number and the claim id number and I logged in, it says the account number is not found since 30th November till today. Please kindly do something about it for me

  4. I filled the on boarding form on 30/11/20 but has not yet receive the third message please how do I get it

  5. Please, I’ve completed on boarding form and submitted but noted that my identity card attachment could not be posted. However, I’ve again downloaded all the needed documents and submitted to your official mail since 2/12/2020 and no response. Kindle assist. Thanks in advance.

  6. Kindly let me recieved the third message so I may go for my money since we are done with the election. Is seven days to day that I filled the message sent by SMS Am Fund. Please Xmas is approaching so try to settle us with our own money as PROMISED early on and don’t let it portray as lies.Thank you

  7. Please when I type in my claim ID and the Am fund account number and logged in to fill the onboarding form, it says the account cannot be found. Please kindly do something for me to fill the onboarding form so that I can have access to my partial bailout. Thanks you.

  8. Please, I have never received any massage, not even for acknowledgement for Validation.
    Neither for the bailout fund.
    Kindly help me.

  9. Please I am Esther Dufie. After filling the agreement and acceptance form and submitting it, I received a message that it has been successfully submitted. I am expecting my second message which contains the AM fund number but up till now I still haven’t. I have waited patiently for more than 2 weeks but still haven’t received my second message. My phone number is 0207387326

  10. I am Esther Dufie, a customer of GCFM formerly blackshield capital management limited. I still haven’t received my second message which contains the AM Fund Number. It has been more than 2 weeks after successfully filling my agreement and acceptance form and subsequently receiving a message that it has been successfully submitted.

    • Please madam Esther can u kindly assist me as to where to get the upload button to upload my printed form that we had to print out and affix a passport n signature . I don’t know where to locate that button please

  11. Am Ophelia Dordah i filled the on boarding form on 01/12/20 and submitted but for almost 3weeks now I haven’t received any message from GCB concerning my cash.

  12. Please, what should a claimant do after filling the onboarding form, submitted but the five days waiting period elapsed and still no reapond.

  13. Please, l filled the onboarding form four weeks ago and l haven’t received notification yet.What should I do?
    My contact is 0207862895

  14. Please, l am Timothy ATIEBU. I have filled all the forms since 20/11/2020 but I have not received any information yet. I have even printed the onboarding form and waiting can I take it to GCB like that? .Man dey suffer.

  15. Has anybody actually completed the third step and had their money? It’s been almost two weeks and a half since I completed and submitted the onboarding process but up till now I have not received any response. Please help. Number is: 0592827404

  16. Hello, I have filled the onboarding form but couldn’t upload the individual-page2 form, please what should I do to upload and send it? 0243147377

  17. I have finished all the processes but has not received the bank accounts to enable me assess my money since 3/12/2020. Please, what do I do?

  18. I have also filled the form two weeks ago. I just had an SMS requesting me to log on to ( to complete the process. But in my attempt, I have not seen the exact place I am to complete as purported. Please, any assistance?

  19. Still many weeks after I filled my forms and submitting l’m yet to hear something from them, but I was told I will hear from them within 5 working days. I have received repeatedly messages telling me to fill onboarding form which I did and submitted since the 24/11/2020. What is the matter. Can anyone on this platform confirm receipt of text after submission of onboarding form?.

    • It’s soo surprising that people have filled the Onboarding form and haven’t received the last message with the account number to collect their monies. Meanwhile they said it’s within 5 business days of working and it’s taking like one month for some of us.

  20. I have started the online process to redeem my money, I am at the point to upload my file but find it difficult since the upload botton is not showing for me to continue with the process. What is should I do

  21. I filled the onboarding form since 10/12/2020 expecting to get the third message within the five working days but no sign has been shown, we don’t know what is the problem for the delay. If something should be done urgently for us to get this money, we suffering and thinking about this money for something now for those that have done their onboarding form for the five days to access to their patial. bailout monies.

  22. I filled the on boarding form since 8/12/2020 up to now I haven’t get third message from GCB pls do something for us to get our money

  23. I have completed and submitted my onboarding forms three weeks ago but have not received any message again

  24. I have completed the onboarding forms but cannot upload it.
    What should I do now to upload the form.
    Thank you

  25. Me too I completed the unboarding forms since last month 15 dec 2020 and haven’t received any message yet pls I’m Adu Charlotte

  26. I am Emmanuel W.Echison, a customer GCFM now blackshield. I uploaded all necessary documents since December 1st 2020 and up to date no text message furnishing me my account had been received. Please what has gone wrong. The silence is worrying.

  27. Methodist Church Ghana, K’mintsim circuit Mpatado
    Men’s Fellowship account at Gold Coast Security
    This is our position. We are a church followship,
    Which of these two are we to select (Individual or Corporate)
    Selecting Corporate will seem to be a problem or (Help us) MY numbers (For What’sapp 0248915094) Number link to AmFund 0263559564. Chairman who open the account.

  28. I was a customer of the Defunct GCFM and have filled the on-boarding form since December 10,2020 and was told that I will receive text message within five days to go for the money but till now,January 12,2021 have not received the text message to go for the money.Can I please know what is happening.My number is 0542746100

  29. Pls I have fill the form and has been waiting for the text since December 2,2020 .can you please call us to know what is going on


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