Zenith Bank Ghana Limited continues to actively operate in Ghana’s banking and securities markets, according to the Securities and Exchange Commission (SEC).
This comes after the SEC had previously sent out a notification stating that the Bank had voluntarily stopped acting as a Trustee in the Ghanaian capital market and securities business.
The Bank, however, “continues to hold a Custodian licence issued by the SEC under the Securities Industry Act, 2016 (Act 929) and remains an active operator in the Ghanaian Securities market and banking industry,” the SEC stated in a different statement.
However, the Commission also stated that as of 2022, Zenith Bank Ghana Limited will no longer serve as a trustee for unit trust schemes.
Insider sources claim that the bank’s move has nothing to do with the government’s Debt Exchange Program, despite the SEC not disclosing the reasons for the bank’s decision to stop acting as Trustee for one of its schemes.