28 C
Accra
Wednesday, April 14, 2021
No menu items!

Serengeti groups deny media reports as going on voluntary cessation

Must Read

Fire ravages Techiman Central Market

Fire yesterday ravaged parts of the Techiman Central Market in the Bono East Regional Capital destroying property worth millions...

Ga queen mother returns after 5-year absence

The longest-serving Paramount Queen of the Ga State, Naa Deidei Omaadro III, yesterday touched down from a Delta Airline...

Ghana’s fiscal deficit of GDP in 2020 was 16.0%, not 11.7% – IMF

The International Monetary Fund has contradicted government’s fiscal deficit of Gross Domestic Product, GDP claim of 11.7% achieved in...

An Africa-focused investment bank, Serengeti Capital Market limited and Serengeti Asset Management Limited have denied media reports that they are among companies listed by the Securities and Exchanges Commission (SEC) as going on voluntary cessation of business.

A statement issued by the Serengeti Capital Partners limited in Accra last Friday, said it was misleading and a factual error for the Securities and Exchange Commission to have added the Serengeti Capital Limited to the list of companies going on voluntary cessation of business in the Securities market.
The Serengeti statement is in response to a Public Notice issued by the Securities and Exchanges Commission on January 29, 2017 listing a number of companies going on ‘voluntary cessation of business’ that mistakenly included Serengeti Capital Limited.
The facts of the matter, the statement said, were that there is Serengeti Capital Partners Ltd, Serengeti Capital Markets Ltd. and Serengeti Asset Management Ltd which belong to same Management.
According to the statement, in 2016/2017, Management declined to renew a license because two of the companies had overlapping licenses.
This was to avoid a needless duplication of licenses and functions and dutifully informed SEC about the decision.
The SEC Notice, the statement disclosed, created the unfortunate impression that the Commission had unilaterally taken a regulatory enforcement action against a Serengeti entity whereas the truth remains that Serengeti Asset Management Ltd and Serengeti Capital Markets Ltd are duly licensed and in good standing with SEC to operate in the Capital and Securities markets.
The statement concluded that ‘for purposes of emphasis, the public, especially the clients of Serengeti Asset Management Ltd. and Serengeti Capital Markets are hereby assured that the two companies remain in business, are in good standing with all relevant regulatory bodies, and continue to provide Fund Management, Asset Management, Brokerage and Investment Advisory Services.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Fire ravages Techiman Central Market

Fire yesterday ravaged parts of the Techiman Central Market in the Bono East Regional Capital destroying property worth millions...

Ga queen mother returns after 5-year absence

The longest-serving Paramount Queen of the Ga State, Naa Deidei Omaadro III, yesterday touched down from a Delta Airline flight from the US to...

Ghana’s fiscal deficit of GDP in 2020 was 16.0%, not 11.7% – IMF

The International Monetary Fund has contradicted government’s fiscal deficit of Gross Domestic Product, GDP claim of 11.7% achieved in 2020, as its data shows...

Daunte Wright shooting: Police resignations fail to ease unrest over death

The resignations of a police chief and of an officer who shot dead a black motorist in Minnesota have failed to end unrest over...

Niger school blaze: Trapped children die in Niamey

At least 20 children have died after they became trapped in a fire at a school in Niger's capital, Niamey. The fire started late on...

More Articles Like This