"We will settle you", decleares Menzgold Boss.

 

Nana Appiah Mensah

Customers who are troubled about their investment with the private gold collectible company, this is a sign of relief. Menzgold boss, Nana Appiah Mensah has assured that Ghanaians who have their investment with the company will be paid in full in the appropriate time. 

Menzgold Ghana Company Limited, is a gold trading hub with its parent company in Ghana and branches across Europe and Africa. The company is committed to becoming a gold trading hub of choice in Africa and beyond. 

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Menzgold to pay all entitlements of clients in full

The CEO made this declaration yesterday, 07/10/2018 to assure the hundreds panic driven clients that the company is doing its best to settle all entitlements in full.

He twitted; “I humbly urge all Menzgold clients to kindly remain calm, as we prepare to COMPLETELY SETTLE all entitlements of any magnitude soon".

“We've got brands and names to protect. Self-restraint now is critical to maintain public peace and order. All is well ...”. 

 

Cause

Menzgold, on September 13, 2018 issued a six-day temporary suspension of its activities following a directive by the Securities and Exchange Commission (SEC) to halt its trading activities.

The regulator has earlier requested the company to stop advertising its gold vault business and restrain from creating new contracts with depositors because especially, the gold vault which involves the purchase/deposit of gold from the public and contracts issued with guaranteed returns with clients, is a capital market activity which does not fall within their licence of operations.

This came after a media battle with the Bank of Ghana and a subsequent investigations conducted by the its parent company, SEC that found that Menzgold's activities cannot be conducted without a valid licence issued by the SEC.

 

New development

The suspension of the company's gold vault operation has been further extended to 19th December 2018 by the Securities and Exchange Commission (SEC). This is to allow the company settle out differences and restart operation.

This means that, as it stands now returns on investments for customers cannot be issued amidst the uphold of the ban.

But at least coming in December will be a better way to enjoy their sweat.

Will Menzgold survive through this hard times?

What do you think? Share your comments with us.