We will start payments soon; call off planned demo – Menzgold to customers

Menzgold Ghana Limited is calling on aggrieved customers of the company to back down on their planned nationwide demonstration.

The company said although the customers have the right to stage such a protest, it believes that the action is unnecessary as it is honoring its promise of paying monies to the customers.

The Head of Communications of the gold dealership company, Nii Armah Amarteifio in an interview with Citi News said aggrieved customers who are still unsure about the payment of their investments must approach the company and dialogue, rather than hit the streets.

“It is their civil right to go on a demonstration. I urge them to call off the demonstration because as it stands, the promise that we made to them regarding the payment of the 15%, I know most of them are complaining that they have not seen or heard people being paid. But the fact is that we are paying so I urge them to come, so we sit down and have a discussion on the matter,” he said.

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Some customers of the embattled company on Wednesday threatened a nationwide demonstration next week Wednesday to impress upon the company to pay them their principal investments that appear locked up.

Few months ago, Menzgold was asked to suspend its gold trading operations with the public by the Securities and Exchange Commission (SEC).

According to the SEC, Menzgold has been dealing in the purchase and deposit of gold collectibles from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.

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This, the SEC said this was in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.”

The company was however cleared to continue its “other businesses of assaying, purchasing gold from small-scale miners and export of gold.”

Despite initial protests, Menzgold complied with the directive. It has however failed to fully pay its numerous aggrieved customers the value on their gold deposits as well as their entire investments.

Source: citinewsroom.com

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