Menzgold Customers Rocks Tarkwa With Demo


A number of victimised customers of embattled gold dealership firm, Menzgold Ghana has hit the streets of Tarkwa in the western Region to pile more pressure on government for their locked up money.

The demonstration is as a result of  government’s failure to meet a three – day ultimatum the customers gave it, to provide a clear road map on how to recover their investment at Menzgold.

The demonstrators who were clad in red and black attire, holding placards with inscriptions such as “seize management assets”, “a forensic committee should audit Menzgold managers assets”, “no money, no vote”, “we want our money”, as well as a picture of president Akufo Addo shaking hands with Menzgold’s CEO Nana Appiah Mensah (NAM1).

Spokesperson for the aggrieved customers, Kwabena Bonzo , said this to Citi News, “We have been victims of Government’s so called Ponzi scheme. It is their directive that shut Menzgold down. And as customers and citizens of Ghana, we expect government to work in our interest so we don’t lose a penny. But over six months since this incident happened, government and the institutions have sat down for NAM 1 to operate and have his freedom.”

He also added this statement to his statement, “So we are on the streets today to demand justice from the President for failing to address this national security threat. We are therefore calling on the government to as a matter of urgency act and protect the citizenry.”

The demonstration adds to a bout already three that the customers have staged since the Mengold saga last year. It could be recalled that, in 2018, over two hundred customers of Menzgold rocked the premises of the company’s head office at Dzorwulu in Accra to demand payment of their locked up investments.

The company was asked to stop its gold trading operations with the public by the Securities and Exchange Commission (SEC) after it detected breaches in their operations. SEC took the action against the backdrop that, the company’s trading activities were in contravention to section 109 of Act 929 with consequences under section 2016 (I) of the same Act.

Meanwhile, the CEO is currently standing trial at the United Arab Emirates (UAE) for a misdemeanour charge over a $23 million deal, gone bad. NAM1 is currently in the custody of the Al Barsha police cell over the misdemeanour charge.

The criminal charge of misdemeanour in Dubai is equivalent to a Second Degree Felony in Ghana and if found guilty he could spend up to two years in prison.


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