TTL Capital Limited, an investment banking and financial advisory company, has been launched in Accra.


TTL Capital Limited is licensed and regulated by the Securities and Exchange Commission (SEC) of Ghana and is an active member of the Ghana Securities Industry Association (GSIA).


Among the services to be provided by TTL Capital are Fund Management Services, Investment Planning and Investment Research, Business/Company Valuation, Corporate Finance Advisory and Raising Capital.


The others are Asset Management, Working Capital Management, Due Diligence, Issuance of Commercial Papers and Equity and Financial Research.


In a key note address delivered on his behalf at the launch, yesterday, Mr Samuel Thompson Essel, Chief Executive Officer, Financial Intelligence Centre (FIC), cited the security sector for its weak anti-money laundering controls with the overall risk assessment rated medium.


Mr Essel, therefore, stressed the need for appropriate legislations, an efficient and effective institutional framework, and actionable financial intelligence to deny criminals access to their ill-gotten funds and ensure success in combating money laundering.


He urged financial institutions to lift the veil off legal entities to establish the identity of the beneficial owners by taking reasonable measures to obtain and hold up-to-date information on the beneficial owner, adding that the concealment of the identities of true beneficiaries exposed the security industry to the vulnerability of money laundering.


He said effective suspicious transaction monitoring and prompt reporting would furnish the FIC with the intelligence so needed for a sound anti-money laundering system.


Mr Essel reminded TTL Capital that identification, verification and continuous monitoring of its clients’ transactions were the basic foundation of a sound and robust Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) regime.


He urged the company to identify and assess its AML/CFT risks and allocate resources to mitigate the identified risks, particularly with new technologies and non face-to-face transactions and relationships.


“Effective due diligence must be conducted on existing and new customers and even extended to your staff members. Monitor transactions and file Suspicious Transaction Reports and Cash Transaction Reports in accordance with law”, he added.


In an address, the Chairman of the Board of Directors, Mr Seth Oteng, gave the assurance that the investment packages developed by TTL Capital would ensure capital preservation and superior investment returns.


The Managing Director of TTL Capital Ltd., Mrs Efua Filson Fynn, in her remarks, said TTL Capital, which began operations in 2015 after its establishment in 2014, was emerging as one of the foremost fund management and advisory institutions in the Ghanaian financial services sector.


Mr Alex William, Acting Director-General, SEC, in an address, reminded TTL Capital of their fiduciary responsibilities to their clients and warned against the mismanagement of investor funds.


He disclosed that a new Securities Industry law had been passed, the implementation of which would begin in 2017 and urged the management of TTL Capital to show high levels of integrity in the discharge of their duties as fund managers, as the law would mete out severe sanctions to errant managers.


For his part, Prof. Godfred Bokpin, Head of Department of Finance, University of Ghana Business School, called on Ghanaians to patronize the investment packages provided by TTL Capital which, he said, would ensure that long-term capital was available for Ghana’s long-term growth and development.


A Board member, Dr Solomn Nortey, reiterated the need to abide by the core values of integrity and due diligence in the operations of the company.



Source: ISD (G.D. Zaney)

Created: 21 April 2016
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