The customers are demanding refund of their investment
The customers are demanding refund of their investment
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Menzgold Ghana says it is prepared to dialogue and negotiate with aggrieved customers who are still unsure about the payment of their investments.

The company believes that an amicable solution could be arrived at which customers who are suspicious or entertaining doubts about the repayment of their investments.

Head of Communication at Menzgold, Nii Armah Amarteifio told journalists that his outfit is ever ready for fruitful engagements with aggrieved customers.

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About 1.8 million customers have so far being affected by Menzgold’s inability to refund their invested capital. The customers who have now formed the Coalition of Aggrieved Customers of Menzgold, on Tuesday took the streets of Accra to petition the President, Bank of Ghana, Parliament and the Securities and Exchange Commission to intervene to enable them to secure their funds.

According to the petition made available to the press, the group doubted Menzgold Ghana’s commitment to pay their investments because the company failed to fulfill an agreement that has been reached after two crunch stakeholder meetings.

The petition also called on the President, Parliament and the industry regulators to compel Menzgold Ghana to pay its customers their principal within the next three months.

“We also demand the CEO of Menzgold be ordered under your authority to pay us our hard earn investments,” it stressed.

But Finance Minister Ken Ofori-Atta maintains that since Menzgold had no licence from requisite state bodies to operate, the government is not under any obligation to the investors of the gold dealership which was offering as much as 120 per cent profit per annum.

Speaking at the third capital market conference and 20th Anniversary commemoration of the Securities and Exchange Commission (SEC), Mr. Ofori-Atta then attributed the decision of the aggrieved customers of Menzgold to invest their hard earned cash with the company to “pure greed.”

Must Read : BoG, Menzgold dispute deepens

He revealed that some of the affected persons were members of the Bank of Ghana (BoG), the ministry of finance, the military and other reputable institutions across the country.

Not taken kindly the words of the Minister, the aggrieved customers protested at Mr. Ken Ofori-Atta’s  utterance and reiterated that they are only investors, and not greedy people, and that the central bank should assist them to retrieve their money.

By Benjamin Nana Appiah/

VIABenjamin Nana Appiah
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