Menzgold to resume commercial operations 


Gold dealership firm, Menzgold Company Limited, will resume full commercial operations on November 5, 2018 the company has announced. 

The company said it would launch a new gold/collectibles-trading product that would make it possible for existing transactions to be migrated unto that platform for immediate and prompt extra value and principal payments.


This was contained in a press statement signed by acting Head of Communication of the company, Nii Amarh Amateifio, and copied to Today over the weekend.


The statement said the management was yet to decide on the percentage to be paid to its existing customers who have expressed desire to terminate their investments with the company.


The percentage, once agreed, will be paid directly into the accounts of all customers, Menzgold said.  The statement commended customers for taking time off their busy schedules to go and have their names written at the various branches in anticipation of their principal payments.  The statement also assured that the percentages to be paid will be officially communicated in a press release after a stakeholders meeting scheduled for this weekend.


It noted that all agreed percentage payments would be made via direct transfer into the accounts of all customers who have expressed their willingness to terminate their transactions shortly thereafter.


“The Menzgold could commence full operations on or before 5th November 2018, with the launch of a new online Gold/Collectibles Trading product that would make it possible for existing transactions to be migrated unto it for immediate prompt EXTRA VALUE & PRINCIPAL PAYMENTS in order for the business to proceed as usual,” it further assured.


It assured its cherished customers of its unreserved commitment to stabilise, sustain and grow the Menzgold course, all in its resolve to serve its customers better.  The statement further hanked all customers for “your patience and support physically and spiritually as we navigate through these cold trying waters to a fruitful, expected and fulfilling end.”  “May we also announce that effective Monday, 29th Oct. 2018, there would be a program titled; “TIME WITH MENZGOLD” that would be the official medium through which Menzgold/Customers concerns would be adequately addressed by Management. This would be the authoritative mouthpiece for the Menzgold Communications department. It would be aired every Monday and Thursday, 11am-12pm on Zylofon FM 102.1 and repeat on Tuesdays and Fridays, 7:30 pm – 8:30 pm on Zylofon TV,” the statement further assured.  The statement noted that the doors of the company are always open for queries, suggestions, and contributions.


It would be recalled that the company has been unable to pay its clients their dividends due to an ongoing battle with the Security and Exchanges Commission (SEC) and the Bank of Ghana over its operations.


While the state institutions say the company has not been licensed to take deposits, Menzgold insists it does not take deposits and does not answer to the two institutions.  Some clients who have not been able to access their dividends are seeking to terminate their contract with the company while others have hinted at dragging Menzgold to court.


Freeman Koryekpor


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