Migrate or terminate your contract - Menzgold to clients

Chief Executive Officer (CEO) of Menzgold, Nana Appiah Mensah has encouraged its aggrieved customers to take advantage of the company’s online platform and migrate on it.

Breaking his silence for the first time on the brouhaha involving his company, the Securities and Exchange Commission and the Bank of Ghana (BoG), he assured customers that his company will pay them their 15 percent off the initial gold collectibles values committed to the buying and selling on the Menzgold 'Gold Vault Market' would start on the 9th November, 2018…”

The intention of the company according to him was to pay off the entire amount in 90 days from their previous release. Mr Mensah said for the past five years, the company has been consistent until it started facing challenges with SEC and the BoG.

He also disclosed the company developed a schedule for the paying but due to rush and apprehension, it was halted. He however revealed the company will pay 15 percent of the dividends of all customers who genuinely want to terminate their deal.



In explaining how the payment would be made, he said, the schedule will take into consideration the date of trade commencement of clients, “whether a trader did receive any extra value payment since the trader’s trade commencement or not, how long the trader has been buying and selling gold collectibles on the Gold Vault Market, the total quantity and value of gold collectibles put up for trade on the Gold Vault Market, and the extra value payments frequency received by each trader since the trader’s gold buying and selling tenure on the Gold Vault Market”.

He further assured customers that, Menzgold “would keep customers’ gold buying and selling business actively in session on the online market, to forestall any payment impediments in the subsequent months”. The company he stated will have a ‘’great rebound, be stronger than the previous years it has been in existence and provide better services. We will continue to resolve the challenges, we will also abide by the rules and work within the legal framework in Ghana.’’ The company he stressed has not collapsed as stated by some individuals.

He concluded by emphasising that, the company will stabilise, sustain and grow the Menzgold course, all in our resolve to serve our customers better.