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Databank Closes All Offices Nationwide [DETAILS]

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Databank Closes All Offices Nationwide [DETAILS]

Databank Closes All Offices Nationwide [DETAILS]

Following physical and verbal assaults against some of its employees by certain of Databank’s clients, the fund management company has announced the closing of its offices and the implementation of remote work for its workers as of today (December 22, 2022).

The organization claimed in an email to its clients that it had been impacted by the liquidity issues that have shaken the fund management sector due to the “macro-economic crisis” the nation is currently experiencing.

The company’s inability to pay withdrawal requests as a result of the crisis, it claimed, had a negative impact on its initial two-week withdrawal forecast.

“We are currently engaging with the Ministry of Finance, our Regulator (The Securities and Exchange Commission (SEC)), and the Ghana Securities Industry Association regarding the impact of the debt exchange on Databank’s mutual funds as well as other Collective Investment Schemes,” the email said.

Read The Full Press Statement Below:

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