The Securities and Exchange Commission (SEC) has stated explicitly that Zenith Bank Ghana Limited continues to actively operate in Ghana’s banking and securities markets.
Following the SEC’s earlier notice that the Bank has voluntarily stopped acting as a Trustee in the Ghanaian capital market and securities business, this has happened.
However, the SEC stated in a different statement that “the Bank continues to hold a Custodian license issued by the SEC pursuant to the Securities Industry Act, 2016 (Act 929) and remains an active operator in the Ghanaian Securities market and banking industry.”
The Commission however added that Zenith Bank Ghana Limited has voluntarily ceased its Trustee services for Unit Trust Schemes in 2022.
Although SEC did not state the Bank’s reasons to cease its Trustee services for one of its schemes, insider sources say the bank’s decision has nothing to do with the Debt Exchange Programme of government.