Business

Zenith Bank ceases trustee services in unit trust schemes in Ghana

Zenith Bank Ghana Limited, a licensed Trustee that engages in Trustee activities in the securities industry and capital market in Ghana, has voluntarily requested to cease its unit trust services in the country.

A statement issued by the Bank however noted that “all other businesses within the Capital Market are operational.”

The statement by the Bank comes on the back of a statement issued by the Securities and Exchange Commission (SEC) on Wednesday, January 18, 2023, which noted that the bank had willingly requested to stop providing trusteeship services in Ghana.

The reasons why Zenith Bank has decided to opt out of such a scheme are readily not known.

“The SEC issues this notice to the general and investing public that Zenith Bank Ghana Limited, a licensed Trustee that engaged in Trustee activities in the securities industry and capital market, has voluntarily requested to cease operations.”

“The SEC has, after a thorough assessment of the circumstances, approved the voluntary cessation of business of

Zenith Bank Ghana Limited as a licensed Trustee. Zenith Bank Ghana Limited is no longer mandated to carry out any Trustee activities within the securities industry,” the SEC said in its statement.

Below is the full statement from the SEC:

Source: Ghana Business

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