The CEO of Menzgold, Nana Appiah Mensah, has moved to assure Ghanaians that the gold dealership firm will not fold after the Deputy Minister of Finance controversially claimed that the company was on the verge of being closed down in the country.
Mr Mensah said claims that the gold dealership company is a financial is not accurate insisting the company only does gold trading contrary to the claims of the authorities.
Charles Adu Boahen sparked fear and panic in the country on Thursday during the JoyBusiness Financial Service Forum when he implied that Menzgold will not be operation in Ghana again.
The deputy minister made the bizarre claim at the public gathering even though there is a legal battle between Menzgold, the Bank of Ghana and the Securities and Exchanges Commission (SEC) at the Accra High Court. Despite the ongoing legal tussle and the final determination of the status of Menzgold by the court, Boahen jumped the gun by hinting that they will not allow the company to operate in the country again classifying it as a financial institution.
“With the Menzgold issue, I think it is clear that the end is here. He is done,” Boahen said at the JoyBusiness Financial Service Forum.
The statement of the Deputy Minister looks have spurred the CEO of Menzgold who insists they are operating a legal business, assuring customers they are not on the verge of being closed down.
“Menzgold is NOT a financial institution. Menzgold is a vibrant promising African brand that is here to stay. Menzgold is law abiding,” Nana Appiah Mensah wrote on Twitter on Thursday night.
The statement by Mr Mensah is bound to calm the nerves of thousands of Ghanaians who are customers of the gold dealing firm who were sent into panic mode following the claims of the Deputy Minister.
Menzgold on September 27, 2018, hauled the Securities and Exchange Commission (SEC) and the Bank of Ghana (BoG) to court over what it deemed as an unfair treatment being meted out to the company. Menzgold in its suit is seeking an order from the court to halt these two state institutions from interfering in its business and operations.
The gold dealership company is also asking the court to stop the BoG and the SEC from further publishing what it described as “derogatory notices” against its business.
The statement by the Deputy Minister of Finance could be seen to be contempt of court as the matter is still being addressed at the Accra High Court.
Menzgold is NOT a financial institution. Menzgold is a vibrant promising African brand, that is here to stay. Menzgold is law abiding. Great is thy faithfulness, O! God. Hail! Menzgold #Floreat! Menzgold #Jehovahknows #JehovahSees #GhanaShallProsper pic.twitter.com/aHTemphr0n
— Nana Appiah Mensah (@mn_appiah) 1 November 2018
Source: zylofonmediaonline.com
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Akufo Addo and his government are a disaster. They are treating Ghanaians as slaves and forcing them to save in banks and financial institutions that will give dividends that will impoverish them and send them to their graves whilst collapsing the ones that will give them realistic dividends that will make them live good lives. This is the agenda they want to pursue so that they will keep Ghana under their tight control forever. They should remember that Man proposes but God disposes.
PAY YOUR AGGRIEVED CUSTOMERS AND SPARE OUR EARS WITH THESE ***barred word*** STATEMENTS
You and paapaa....
Nana appiah stop being a coward; come out and face your customers. Don’t be hiding behind your social media handles and be throwing jabs and making unnecessary statements. Come out boldly and address the people. This generic vague statement does not reassure some of us. This is no npp ndc matter. The institutions must work according to the laws and so should you. Come out from your hideout and don’t leave this issue for your sycophants to handle cos they can’t but rather make things worse.
Where does Akufo Addo and his government want Ghanaians to invest their monies? When we go to MenzGold, they say it has no license, when we go to Nduom’s Gold Coast fund and other investment companies giving us realistic dividends government says they should close down by 31st December 2018. The only place government wants Ghanaians to invest is their treasury bills and savings in commercial banks that give us 13%. Is this the change that Akufo Addo and his government promised Ghanaians? To make Ghanaians HEWERS OF WOOD AND DRAWERS OF WATER? Ghanaians will advise themselves accordingly.
COALLITION OF THE VICTIMS OF NPP ATROCITIES WILL VOTE OUT NPP BY ALL MEANS BCOS WE ARE GOING TO GANG UP AND CAMPAIGN AGAINST THE NPP VERY VERY MASSIVELY BCOS OF THEIR GREED AND INSENSITIVITY TO THE POOR MASSES AND MIDDLE CLASS PEOPLE NPP HAS DISPLAYED THE STUPIDESTTTT BEHAVIOUR YET IN GOVNCE....THEY ARE BUSY DESTROYING MIDDLE AND LOWER CLASS PEOPLE WHO VOTED MASSIVELY FOR THEM ...CONGRATS TO NPP PAAAA BCOS BOG AND SEC WILL VOTE MASSIVELY FOR THEM IN 2020 NDC WILL DEFINITELY BOUNCE BACK IN 2020.... WAIT AND SEE HOW UR NPP WILL LOSE 2020 ....THEY ARE NOW EVEN DESTROYING GN BANK AND GOLD COAST SECURITIES...STUIPIDDD FOOOOLLLLS NPP U ARE INDEEED BUFOOOOONNNNSSS PAAAAAAA....COMMON SENSE TELLS U THAT WE ARE GOING TO GANG UP AND CAMPAIGN FOR NDC TO COME BACK BCOS NPP IS CALLOUSSS AND WICKEDDDDDD SO NDC just introduce a new face and win the 2020 hands down and very very massively ....bcos we have ganged up to support ndc return to power to save Ghana and her local industries and businesses which npp is destroying so very fast ......gn bank and gold coast securities are dying so painfully.....these are institutions which have given incomes to poor and middle classes for over 25 yrs ..but npp is suddenly killing them due to some bogus policies and laws...we hold the power we will kick them out in 2020 bcos they have destroyed our country's financial sector so painfully
Thank you NAM1 for giving hope to the devastated customers of MenzGold. By the grace of God, MenzGold will work again!