Audio Attachment:Listen to George Opare Addo |
Former Municipal Chief Executive (MCE) of Akuapem North, George Opare Addo says there will be a 'mass funeral' in Ghana should Menzgold collapse.
According to him, there seems to be some mischief or a calculated attempt by some mischievous persons within the State regulators to cripple Menzgold instead of supporting it.
Menzgold Ghana, a company trading in gold collectibles, has been directed to shut down by the Securities and Exchange Commission (SEC) for not having a permit to operate.
The SEC wrote to the company, demanding that all trading in gold without licence be ceased.
It asked the company not to take new contracts (investments) and also halt broadcast and publishing of all its adverts.
This comes after the Bank of Ghana warned customers and the general public from transacting business with Menzgold stating emphatically that it's unlicensed and any individual who deals with it do so at his or her own risk.
Addressing the issue on Peace FM's 'Kokrokoo', George Opare Addo, who is vying to be National Youth Organizer of the NDC explained that Menzgold is a local business established by a Ghanaian and needs support not an attack targeted at disintegrating the gold firm.
“Even if they have flouted the laws, we could deal with this without causing the necessary panic or that panic button we have pressed which is disorganizing everybody . . . The most important thing is whatever we do, we should remember it is a Ghanaian business entity . . . You don’t create crisis in solving a problem . . . We cannot afford to kill Menzgold,” he said.
He noted that the SEC and Bank of Ghana (BoG) should rather hold fruitful negotiations with Menzgold, assisting it to operate successfully.
He also wondered why the SEC and the Central Bank are now acting on Menzgold if they believe the company doesn't have the requisite documentation to transact business.
“All these years Menzgold started their activities, where was the Securities and Exchange Commission? Have they just woken up one morning and realized Menzgold is not operating within the frontiers of the law?” he questioned.
Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana
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DEAR KEN OFORI ATTA, SO MENZGOLD HAS NOW BECOME A THREAT TO YOUR DATABANK AND YOU WANT TO DO ALL THAT ITS TAKES TO COLLAPSE IT. BECAUSE U NOW HAVE POWER? SOON, GHANAIAN WILL PUT YOU AND YOUR GOVERNMENT INTO THE DUST BIN. ITS ONLY THE WILL OF GOD THAT WILL BE DONE. NOT YOUR WILL. JUST WANT U TO KNOW, YOU MAY NOT EVEN LEAVE TO SEE TOMORROW. THINK ABOUT THIS AND WORK IN THE INTEREST OF GHANA. NOT YOUR FAMILY AND FRIENDS. ENJOY THE WEEKEND.
It is written in Akan proverb ***barred word*** NE teae na Afro egu
OPARE SHOULD BOW HIS HEAD IN SHAME! THIS TYPE OF SELECTIVE, CARE FREE AND KIDS' GLOVES ATTITUDE OF THE PARTY THAT YOU REPRESENT IS WHAT HAS CONTRIBUTED TO THE SO MANY CRISES NOW IN THE FINANCIAL SECTOR. SUPPORT THE GOVERNMENT TO CLEAN OUR FINANCIAL MARKET AND STOP THE ***barred word*** POPULISM INTENDED FOR YOUR GULLIBLE VOTERS!
NANA ADDO IS NOW BECOMING DESTRUCTIVE TO BUSINESSES IN GHANA. NANA ADDO, UNDER YOUR WATCH SEVEN BANKS HAVE GONE DOWN. THOUSANDS OF PPLE HAVE LOST THEIR JOBS. MENZGOLD IN OPERATING, NO DIFFICULTIES WHATSOEVER, YOUR GOVERNMENT MOVES IN TO DESTROY THE COMPANY. IF I MAY ASK, HOW MAY GHANAIANS DO YOU WANT TO DESTROY? IN ANY CASE, HOW MANY PPLE HAVE YOUR GOVERNMENT EMPLOYED, SINCE VOTED INTO OFFICE? I BELIEVE, NPP BELIEVES IN PRIVATE ENTERPRISE. SO, WHY HAS IS BECOME A POLICY TO DESTROY GHANAIAN BUSINESSES? I THINK WHAT IS HAPPENING IS A DISGRACE TO US AS NATION. LET SANITY PREVAIL NOW !!!.
If SEC rather,regulating Menzgold,granted Menzgold does not have the locus to operate decides to shut down menzgold,we avowed members of Menzgold will follow Nana Appiah to Nigeria and do business with him. I don't think government want ghananians to statt doing investments with the banks. For what? a paltry interest of 1% per month? when the bank will make me pay over 5% per month I take a loan? It is also interesting to note that Menxgold business model is way different from DKM and jasper motors. Menzgold trades in gold and give a % between 7 and 10% DKM was giving as high as 40%. Now a lot of crypto currency platforms are springing up. USA is trying to regulate such new commodities but I know SEC will find such platforms and kill them. Lets grow up people. This country needs innovation and people willing to step into new grounds. Lets stop politising this. Let us support own! Peolple
Ghana can only prosper when we begin to think outside the box. in need great thinkers and great innovators like NANA APPIAH MENSAH in other to build this Country. for that MENZGOLD should be encourage.
if MENZGOLD is not having licence, they should be given one. that is all. that is the duties of SEC and Bank of Ghana. In any case has anyone complain to them? what about the black market people dealing in dollars without authorization? NANA ADDO, be the PRESIDENT we voted u to be. we are watching u. some of are getting disappointed.
Menzgold all the way. we the customers are prepared to do business in the bed room of NANA APPIAH MENSAH. GOD bless menzgold management.
You see... everone blaming government. You think government is interested in closing down businesses. If they want to do invesment they should open a subsidiary invesment firm and stop hiding behind gold to dupe people. I dont blame menzgold. I blame those greedy ghanaians who want fatter and ourageous interest on their returns. For i wish government will leave menzgold so that life itself will teach them the results of greediness..
when you were eating your money was there a mass enrichment. Go and hang your first, then we know u are talkingn , once again you simply a f00l. ***barred word*** suun