Menzgold to pay clients in 90 days- Management Assures

Written by on October 9, 2018

Management of gold trading company Menzgold Ghana Limited have revealed it will in a period of 90 days pay all principal owed it’s clients.

The company however said it has stopped the payment of extra values to its clients forthwith, due to restrictions and difficulties it is facing with its bankers, arising from the instructions and actions of certain government institutions – Security and Exchange Commission of Ghana.

The embattled company said knowing that the principal concerns of its customers is for the return of their primary value of gold traded with the company, it has agreed to pay and return to every customer the full value of gold traded, in 90 days, commencing from Tuesday, 9 October 2018.

Menzgold postponed payments of returns on investments made by clients on three different occasions due to issues with the Securities and Exchange Commission (SEC) over its operations.

The company has however dragged SEC and the Bank of Ghana to court to stay away from its business but the state agencies insist Menzgold does not have the licence to operate.

In its latest statement, Menzgold said all payments will be made into the accounts of its customers to avoid the rush and overcrowding at its various branches.

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