Menzgold has closed its offices
Menzgold has closed its offices
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About 1,200 employees of embattled gold dealership firm, Menzgold Ghana Limited who were asked to proceed on leave may not be returning to work following continuous demonstrations by some aggrieved customers of the company across the country.

The fate of the employees, who were directed by the Chief Executive Officer of Menzgold, Nana Appiah Mensah to proceed on leave from Monday, December 10, 2018 and resume on December 20, 2018, is currently hanging in the balance.

The directive for them to proceed on leave, according to the company, was due to “incessant security threats from customers on the lives and properties of staff body and the company.”

As a pre-condition for their return to work, the demonstrations have not subsided, as dozens of aggrieved Menzgold customers embarked on a demonstration in Kumasi this morning to press home their demand for payments from the company.

The demonstrators, who marched to the Manhyia palace are seeking the intervention of the Asantehene Otumfuo Osei Tutu II to help them retrieve their money, as they expressed disappointment over government’s silence on the matter.

The company, which has since August been struggling to pay returns to its customers following a regulatory impasse with the Bank of Ghana (BoG) and the Securities Exchange Commission (SEC), explained that the leave had become necessary because the current environment, “is not conducive for operational activities.”

As demonstrations by aggrieved customers of Menzgold intensifies nationwide coupled with series of legal action against the company in an effort to retrieve their savings, most of Menzgold offices across the country, including the main Dzowulu office, remain closed.

Some of the employees who claim they have not been paid for the past four months before the directive to proceed on leave, are calling on the Economic and Organized Crime Office (EOCO) investigate the matter.

By Benjamin Nana Appiah/

VIABenjamin Nana Appiah
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