Your money is safe - Stonebwoy assures Menzgold customers amidst payment challenges

Your money is safe - Stonebwoy assures Menzgold customers amidst payment challenges

Award-winning dancehall artiste, Stonebwoy, known in real life as Livingstone Etse Satekla, is the latest to give hope to aggrieved customers of gold dealership firm, Menzgold Ghana Limited after it resumed work on September 28.

According to a reported sighted by on, Stonebwoy is believed to have indicated that all investments with Menzgold would not be lost despite the challenges the company was facing with the Securities and Exchange Commission.

In a video, Stonebwoy, who is one of the artistes signed by Zylofon Media owned by the Menzgold boss, Nana Appiah Mensah, urged customers to stay calm since the operations of the company was soon going to return to normal.

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“I urge all members of Menzgold to keep calm and take it easy because the situation is under control and your gold deposits are safe and secured.”

Customers of Menzgold are yet to come to terms with the challenges that have compelled the company not to release their locked up cash known as extra value.

Menzgold Ghana Limited was asked to suspend its gold trading operations with the public by the (SEC) because it did not have the valid license to do so.

On September 27, the company came up with a payment schedule although some customers listed for the first day of payment were unable to retrieve their monies.

In the midst of all these, Stonebwoy has indicated that the company has not been shut down as perceived in the media, and that Menzgold had come to stay to the benefit of all Ghanaians.

“By the company’s agreement you can end it at your own time and collect back your gold deposit. Menzgold Ghana has not shut down like the media has it so don’t panic there is no need to. Menzgold is there to benefit Ghanaians. Ghana must definitely prosper,” the singer added.

Dancehall artiste, Shatta Wale, who is signed onto Zylofon Media, also admitted recently that he had a sizable investment in Menzgold.

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Shatta Wale, replied “very much” when asked if he had invested in the company, although he did not state the amount.

“I’m very much [into investment]. I’m number one, the whole Ghana,” he added.

He called on the government to dialogue with the owners of the company in order to find a cordial resolution to the current impasse, which has seen the company shut down its operations temporarily.

After the Securities and Exchange Commission (SEC) asked Menzgold to put on hold its gold trading operations to the public, it stopped paying customers their matured investments.

Some customers who were that the premises of the gold hub requested to waive their investments while others were interested in the extra value that was due them.

The latest development however, which may come as a relief to their customers, is Menzgold’s suit against the Securities and Exchange Commission (SEC) and the Bank of Ghana.

The company in its suit is seeking from the court an order directing the two institutions to stop interfering in its business.

Menzgold among other requests, asked the court to stop the Bank of Ghana and the SEC from publishing what it described as “derogatory notices” against its business.

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Source: Yen

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